It includes sections A and B. Section A reports noncash contributions with values of at least $500, but not more than $5,000. It also reports contributions of publicly traded securities of any value. Section B is for contributions with values exceeding $5,000. The form applies to noncash gifts such as vehicles, real estate, and securities, as well as tangible items such as household goods and clothing when they’re given to qualified, charitable organizations. For example, you would have to file Form 8283 with your tax return if you donate your old Chevy to United Way and want to claim an itemized tax deduction for the car’s $4,500 value. You would also have to file Form 8283 if you give United Way artwork valued at $600.
Who Uses Form 8283?
Form 8283 is used by individual taxpayers as well as by corporations and partnerships when they donate noncash property.
Where To Get Form 8283
Form 8283 is available on the IRS website. You can complete it online, then save it and print a finished copy, or you can print out or download the blank form and fill it out.
How To Fill Out and Read Form 8283
Enter your name as it appears on your tax return in the first, unnumbered space at the top of Form 8283, then enter your Social Security number or taxpayer identification number in the box marked “identifying number” to the right of this space.
Section A
Section A includes only one part. This section is used to itemize gifts (or groups of gifts) for which you’ve claimed a deduction of $5,000 or less, and publicly traded securities valued at more than $5,000. Space is provided for five donations on lines A through E. Each line is associated with nine columns, (a) through (i), requesting various details regarding that donation.
Column (a): Enter the name and address of the organization to which you made the donation. Column (b): Check the box here if your gift was a vehicle and enter the vehicle identification number. Column (c): Give a description of the item’s condition. Column (e): Enter the date you made the donation. Column (f): Tell the IRS how you came by ownership of the property. Column (g): Enter how much you paid for the property or its “adjusted basis” if you spent money maintaining it during your period of ownership, such as fees you might have paid for securities. Column (h): This space is for the fair market value of your donated item. Column (i): Tell the IRS how you arrived at the fair market value you’re claiming, such as an appraisal.
Section B
Section B is for donated property valued at more than $5,000. Part I asks you to check a box identifying the nature of the item you’ve donated and for which you’re claiming a deduction, such as artwork, a vehicle, or collectibles. The box for clothing and household items was recently added to this section regardless of value even if they’re not in good, used condition. You’ll see space for three donations below this (lines A through C) with corresponding columns (a) through (i), just as in Section A. However, some of these columns call for different information than that which is requested in Section A.
Column (a): Provide a description of the property you donated and for which you’re claiming a tax deduction.Column (b): Describe the condition of the property at the time you made the donation.Column (c): State the appraised value of the gift.Column (d): Enter the date you acquired the property you donated.Column (e): Tell the IRS how you acquired the property.Column (f): Enter how much you paid for it or its adjusted basis.Column (g): State whether the gift was acquired via a bargain sale and if so, the amount received for it.Column (h): Tell the IRS the amount of the deduction you’re claiming for this gift.Column (i): Enter the date on which you made the contribution.
Part II is reserved for gifts in which you only had a partial interest, or those that have restricted use. You’ll most likely need the help of a professional if you must complete this section. Part III asks you to identify which items listed in this section appraised for $500 or less. It asks for your signature, attesting that none of these items was worth more than $500 to the best of your knowledge. Part IV must be completed and signed by your appraiser. Part V must be completed by the organization to which you made the gift, acknowledging it. You can attach a separate statement to either Section A or B if you need more room to provide all these details.
Can Form 8283 Be E-Filed?
Form 8283 must be filed with your tax return, so you can include it if you e-file your return. You can e-file your tax return and corresponding forms and schedules at the IRS Free File site, or by using a reputable tax-preparation software provider.
Where To Mail Form 8283
Where you should mail your Form 1040 tax return (along with Form 8283) depends on the state in which you live, as well as whether you’re including payment for any tax owed. The IRS publishes a comprehensive list of addresses on its website, with links for every state.
Requirements for Filing Form 8283
Form 8283 must be filed with your return for the tax year in which you made the contribution and you’re claiming a deduction. A separate form must be filed for each organization to which you made a gift. You’ll need a receipt from the organization, acknowledging the gift, and the organization must confirm that it’s qualified. It can do this by signing Part IV of Section B of the form. Generally, you don’t have to submit the appraisal with your tax return unless the gift in question was artwork with a value of $20,000 or more; clothing or household items that weren’t in good used condition; easements on historic buildings; or deductions of more than $500,000. But you’ll want to keep a copy of the appraisal for your records. The IRS imposes penalties for failure to file Form 8283 for contributions for which you’ve claimed a tax deduction, as well as for mistakes and/or oversights in completing the form, so you might consider enlisting the help of a tax professional.
