IRS Form 8283 is for itemizing non-cash contributions to charities. The value of these contributions is used to figure a deduction from your gross income, before calculating how much federal income tax you owe. Form 8283 asks you to list the type of contribution and how much it's worth. "Instructions for Form 8283," published by the IRS, is available online for more complete information.
Section A Part I Columns (a) and (b)
In column (a), list the names and addresses of the organizations that received your donations. In column (b), describe the property you donated. If you donated a car, list the year, make, model, condition and mileage (you may have to attach Form 1098-C, which is the form for donated automobiles, boats and airplanes). This section on Form 8283 is for donated property worth $5,000 or less, as well as any contributions of securities such as stocks, bonds and mutual funds.
Columns (c) through (h)
List the date of the contribution in (c); the date you acquired the property in (d); how you acquired the property in (e); how much the property cost you when you acquired it in (f); and the fair market value in (g). In column (h), describe how you arrived at the fair market value. You do not have to fill out columns (d), (e) or (f) for any item worth $500 or less.
Identify the items from Part I for which you donated only a partial interest. On line 2a, just enter the letter from Part I that identifies the line item ("A" or "B" or "C" and so on). For line 2b, give the amount you are claiming as a deduction for (1) this year and (2) for any prior tax years. Then in 2c, give the name and address of the organization to which you donated a partial interest in the prior year. List additional partial-interest items on a separate sheet of paper.
Line 3 asks three "Yes/No" questions on items that carry restrictions on your right to use or donate the property. Answer these accordingly.
This section is for donated property worth over $5,000. On line 4, select the box that describes the nature of the property, such as art, collectibles, equipment and so on. For line 5, list the property (a); the physical condition of any tangible property (b); and the appraised fair market value of the property (c). For (d), list the date you acquired the property; (e) how you acquired the property; (f) the cost of the property; (g) amount received if part of the property was sold; (h) the amount of your deduction; and (i) the average trading price of any securities listed in this section.
Part II - Donor Statement
This section asks you to sign underneath a statement. You are pledging that certain single items listed in this section have an appraised value of less than $500. Refer to the IRS Instructions for Form 8283 for specific rules on this.
Part III - Declaration of Appraiser
If the IRS required professional appraisals of any property listed on the form, have the appraiser sign Part III, giving his or her name, title, date, address and identification number.
Part IV - Donee Acknowledgement
Have a representative of the organization that received your property fill out and sign Part IV.
- Photo Credit tax time image by Gale Distler from Fotolia.com
How to Claim a Charitable Donation of Stock
The method of reporting charitable donations varies by the amount and item being claimed. A person who chooses to claim a charitable...
- IRS Form 5472 Instructions
- IRS Form 8282 Instructions
IRS Form 8854 Instructions
Any United States citizen who decides to give up a citizenship, or for long-term residents who had immigrated to this country and...
What Is the Maximum Deduction for Non-Cash Donations?
The Internal Revenue Service (IRS) allows taxpayers to deduct their annual cash and non-cash donations to qualified charities. Generally, taxpayers can deduct...