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.
- Donated noncash items may require an appraisal in order to determine value.
- Appraisals are not required in cases such as private stock valued at $10,000 or less, and for intellectual property.
- This form should not be used for expenses acquired for volunteer or charitable work, or for cash or credit contribution payments or expenses.
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.
A separate form must be filled out for donations made to each individual charitable organization.
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:
- A: Name and address of the organization
- B: Vehicle identification number (VIN), if the property is a vehicle
- C: Property description. If it is a vehicle, the year, make, model, mileage, and general condition must be included. For securities, the name and number of shares must be inputted.
- D: Date of contribution
- E: Date the property was acquired
- F: Details on how the property was originally acquired
- G: Cost or adjusted basis. This should not be filled out if the property was held for at least 12 months or for publicly traded securities.
- 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. 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.