Form 8283: Noncash Charitable Contributions Explanation
Form 8283: Noncash Charitable Contributions is a tax form distributed by the Internal Revenue Service (IRS) and used by filers who wish to deduct noncash contributions made to a qualifying charitable organization. Deductions for noncash contributions are reported as itemized deductions. Form 8283: Noncash Charitable Contributions is a tax form distributed by the Internal Revenue Service (IRS) and used by filers who wish to deduct noncash contributions made to a qualifying charitable organization. Deductions for noncash contributions are reported as itemized deductions. The filer will then fill out the following information for each column in Part I of Section A: **A**: Name and address of the organization **B**: Vehicle identification number (VIN), if the property is a vehicle **C**: Property description. **H**: Fair market value **I**: How the filer achieved the fair market value Part II is filled out if there was less than an entire interest in a property listed in the previous section. Part I of Section B, which is similar to Part I in Section A, is filled out by the taxpayer and/or the appraiser.
What Is Form 8283: Noncash Charitable Contributions?
Form 8283: Noncash Charitable Contributions is a tax form distributed by the Internal Revenue Service (IRS) and used by filers who wish to deduct noncash contributions made to a qualifying charitable organization. Deductions for noncash contributions are reported as itemized deductions. Noncash contributions can include securities, property, vehicles, collectibles, or art.
Who Can File Form 8283: Noncash Charitable Contributions?
This form is available for individuals, partnerships, and corporations to report their noncash charitable contributions if the deduction for the noncash gift equals more than $500. The only exception to the $500 rule is for C-corporations. Corporations with the C-corp tax status must file Form 8283 only if their charitable donation exceeds $5,000.
You can list up to five donations to five different organization on Form 8283, and if you had more donations, you can attach as many Form 8283s to your 1040 as you need.
This form cannot determine a taxpayer's contribution limits.
How to File Form 8283: Noncash Charitable Contributions
The filer must first fill out their name and identifying number. For corporations, this is the employer identification number. For individuals, it is the Social Security number.
The filer will then fill out the following information for each column in Part I of Section A:
Part II is filled out if there was less than an entire interest in a property listed in the previous section.
Part I of Section B, which is similar to Part I in Section A, is filled out by the taxpayer and/or the appraiser. The appraiser must also sign a declaration. The recipient must also sign an acknowledgment, and include its name, identification number, address, and a signature from an authorized officer.
Other Relevant Forms
Taxpayers who file Form 8283 and have made contributions of motor vehicles, boats, and/or airplanes may also include Form 1098-C, which shows the gross proceeds.
In certain cases, form 8283 must also be accompanied by a written appraisal by a qualified appraiser in cases for art pieces valued at $20,000 or more. Part I of Section B can only be filled out after getting the written appraisal. The appraisal is not required to be submitted with the form, but it should be kept with the filer's records.
Download Form 8283: Noncash Charitable Contributions
Here is a link to a downloadable Form 8283: Noncash Charitable Contributions.
Related terms:
Form 1040: U.S. Individual Tax Return
Form 1040 is the standard U.S. individual tax return form that taxpayers use to file their annual income tax returns with the IRS. read more
501(c)(3) Organization
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C Corporation
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Deduction
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Form 4562: Depreciation and Amortization
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Form 8396: Mortgage Interest Credit
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Form 1098: Mortgage Interest Statement
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IRS Publication 561
IRS Publication 561 provides information on how to determine the fair market value for charitable contributions that a taxpayer may wish to deduct. read more
What Is the Internal Revenue Service (IRS)?
The Internal Revenue Service (IRS) is the U.S. federal agency that oversees the collection of taxes—primarily income taxes—and the enforcement of tax laws. read more