Last Updated : January 14, 2009
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8283

Form 8283

Non Cash Charitable Contributions

Purpose of the form:
Use this form to report information about Non cash charitable contributions. Do not use this form to report out of pocket expenses for volunteer work or amounts given by check or credit card. Treat these items as cash contributions. Also, do not use form 8283 to figure the charitable contribution deduction.

Who must file:
 Form 8283 must be filed if the amount of deduction for all non cash gifts is more than $500.  Amount of deduction includes deduction before applying any income limits that could result in a carryover. For carryover rules refer Publication 526. Form 8283 is filed by individuals, partnerships and corporations.

SECTION A:

  • Page -1 of form 8283 must be filed in if the Non cash contribution deduction on Schedule A is more than $500 but less than $500.
  • Also, list certain publicly traded securities even if the deduction is over $5000.

The following publicly traded securities are allowed even if the deduction is more than $5000.

  • Securities listed on an exchange in which quotations are published daily.
  • Securities regularly traded in national or regional over the counter markets for which published Quotations are available.
  • Securities that are shares of a mutual Fund for which Quotations are published on a daily basis in a newspaper of general circulation throughout the United States.

     For more information refer IRS instructions.

PART-I: Information on Donated Property

Line 1:
This line is a manual entry. The User need to enter the details as mentioned in the description.

Column (a):
On this line the user need to enter manually the name and address of the donee organization.

Column (b):

  • On this line the user need to enter manually the Description of the donated property.
  • The greater the value of the property, the more details of it must be provided.
  • For securities include the following:
  • Name of the Issuer.
  • Kind of Security.
  • Whether a share of a Mutual Fund.
  • Whether regularly traded on a stock exchange or in an over the counter market.
  • For a vehicle, give the year, make, model, condition, and mileage at the time of donation.

Column (c):
Enter the date of donation. Use the MM/DD/YYYY format. You must enter the actual date.

Column (d):
Enter the approximate date you acquired the property. If it was created, produced, or manufactured by and for you, enter the date it was substantially completed. If the donation was for an item valued at $500 or less you need not complete this entry.

Clumn (e):
Enter on this line how you acquired the property. This could be by Purchase, Gift, Inheritance or exchange. If the donation was for an item valued at $500 or less you need not complete this entry.

Column (f):
Enter the cost of or basis in the item donated (purchase, gift, etc.) Do not complete this column for property held at least 12 months or publicly
Traded Securities. Keep records on cost or other basis.

Column (g):
Enter the Fair Market Value (FMV) of the property on the date you donated it. It is necessary to attach a statement if :

  • You were required to reduce the FMV to figure the amount of your deduction, or
  • You gave a Qualified Conservation Contribution.
  • Check the checkbox for qualified conservation and give explanation for it in the explanation statement provided.

Column (h):
Enter the method used to determine the fair market value of the item. You can use a number of methods to find this information. For more information on fair market value, refer the instructions of Form 8283 or Publication 526.

Worksheet for Charitable Contributions:

  • This worksheet is used for amount to be reported on schedule A.
  • This form calculates when FMV (Fair Market Value) is greater than cost. Select either the capital Gain 30% or 20% capital gain deduction Limitation checkbox. If neither is selected, the lower of cost or FMV is deducted on Schedule A.
  • If the contribution was not a capital gain property and given to a 30% limit Organization, select the other 30% checkbox.

PART-II: Other Information

Line 2a to 2e:
Complete lines 2a to 2e only if you contribute less than the entire interest in the donated Property during the tax year. On line 2b, enter the amount claimed as a deduction for this tax year and in any prior tax years for gifts of a partial interest in the same property.

Line 3a to 3e:
Complete Lines 3a to 3c if an agreement places conditions on any property listed in Part-I, answer Questions A through C and attach the required statement. If you answer YES to any of the Questions, you must a statement explaining the terms of the agreement or understanding and whether the property is designated for a Particular purpose.

SECTION B:

  • Page-2 of the form must be filed in if the noncash contribution deduction on Schedule A is $5000 or less.
  • Do not include publicly traded securities reportable in section A.
  • With certain exceptions, items reportable in section B require a written appraisal by a

Qualified Appraiser.
Exceptions: You do not need a written appraisal if the property is :
(1)Non publicly traded stock of $10000 or less.
(2)A vehicle donated after 2004 if your deduction for the vehicle is limited to the gross proceeds from its sale.
(3)Intellectual Property donated after June 3, 2004.
(4)Certain securities considered to have market quotations readily available.
(5)Inventory and other property donated by a corporation that are “Qualified Contributions” for the care of ill, the needy, or infants.
(6)Any donation made after June 3, 2004 of stock in trade, inventory, or property held primarily for sale to customers in the ordinary course of your trade or business.
(7)A donation made by a C corporation (other than a closely held corporation or Personal service corporation) before June 4, 2004.

 PART-I: Information on Donated Property
 
 Line 4:
Select the type of property donated on line 4. Read the descriptions of the donations that are designated by the asterisks. If the property type is art valued at $20000 or more, the tax return cannot be electronically filed and a complete copy of the signed appraisal must be attached and must enclose a copy of this form to Form 8453.

 Line 5:
This line is a manual entry. The User need to enter the details as mentioned in the description.

Column (a):
On this line the user should enter a detailed description so a person unfamiliar With the property could be sure the property that was appraised is the property that Was contributed.

Column (b):
Give a brief summary of the overall physical condition at the time of donation of any tangible property.

Column (c):
Enter the appraised fair market value of the donated item. If you were not required to get an appraisal, include the fair market value you determine to be correct.

Column (d):
Enter the date the taxpayer acquired the donated property. If you have a reasonable cause for not providing the information attach an explanation so your deduction will not be automatically be disallowed.
        
Column (e):
Enter on this line how you acquired the donated property. This could be by Purchase, Gift, Inheritance or exchange. If you have a reasonable cause for not providing the information attach an explanation so your deduction will not be automatically be disallowed.

Column (f):
Enter the cost of or basis in the item donated (purchase, gift, etc.) If you have a reasonable cause for not providing the information attach an explanation so your deduction will not be automatically be disallowed.

Column (g):
A bargain sale is a transfer of property that is in part a sale or exchange and in part a contribution. Enter the amount received for bargain sales.

Column (h):
Complete this column only if you were not required to get an appraisal.

Column (i):
Complete column (i) only if you donated securities for which market Quotations are considered to be readily available because the issue satisfies the five requirements described in IRS regulations.

Worksheet for Charitable Contributions:

  • This worksheet is used for amount to be reported on schedule A.
  • This form calculates when FMV (Fair Market Value) is greater than cost. Select either the capital Gain 30% or 20% capital gain deduction Limitation checkbox. If neither is selected, the lower of cost or FMV is deducted on Schedule A.
  • If the contribution was not a capital gain property and given to a 30% limit Organization, select the other 30% checkbox.

PART-II: Taxpayer (Donor) Statement

Complete Section B, part-II, for each item included in Section B, Part-I, that has an appraised value of $500 or less. Enter the item letter and description for items donated in Part-I are not appraised at a value of not more than $500.

PART-III: Declaration of Appraiser

PART-IV: Donee Acknowledgement

This part should be completed by the Donee organization that received the property in Part-1 of Section B. The person acknowledging the gift must be an official authorized to sign the tax returns of the organization, or a person specifically designated to sign Form 8283.

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