When Do I Need to File Form 8283

 

When Do I Need to File Form 8283 - Noncash Charitable Contributions?

The last revision year for this form was 2014. The information is still relevant for 2018 tax returns.

Charitable contributions are deductible only if you itemize deductions on Schedule A, Form 1040. To be deductible, charitable contributions must be made to qualified organizations. Refer to Publication 526.

 

If your contribution entitles you to merchandise, goods, or services, including admission to a charity ball, banquet, theatrical performance, or sporting event, you can deduct only the amount that exceeds the fair market value of the benefit received.  For a contribution of cash, check, or other monetary gift (regardless of amount), you must maintain as a record of the contribution either a bank record or a written communication from the qualified organization containing the date and amount of the contribution and the name of the organization.  You generally can deduct the fair market value of any property you donate, as well as your cash contributions, to qualified organizations. For additional information on determining value, refer to Publication 561. For any contribution of $250 or more (including contributions of cash or property), you must obtain and keep in your records a contemporaneous written acknowledgment from the qualified organization indicating the amount of the cash and a description of any property contributed, and whether the organization provided any goods or services in exchange for the gift.  One document from the qualified organization may satisfy both the written communication requirement for monetary gifts and the contemporaneous written acknowledgment requirement for all contributions of $250 or more.

You must fill out Form 8283 and attach it to your return if your total deduction for all noncash contributions is more than $500.  If you claim a deduction for a contribution of noncash property worth $5,000 or less, you must fill out Form 8283, Section A.  If you claim a deduction for a contribution of noncash property worth more than $5,000, you will need a qualified appraisal of the noncash property and must fill out Form 8283, Section B.  If you claim a deduction for a contribution of noncash property worth more than $500,000, you will also need to attach the qualified appraisal to your return.

IRS Discontinues Accepting Various as the Contribution Date

Beginning with the 2007 filing season the IRS began requiring that a date is entered (month/year) on Form 8283 Column D, Date acquired by donor on any donated property over $5,000.  The contribution will be disallowed if the date is left blank, or if the term various is used.  You will not be able to exit the Donated Property Menu until an acquired date is entered.

To enter Gifts to Charity in the tax program

From the Main Menu of the Tax Return select:

• Federal Section
• Deductions
• Itemized Deductions 
• Gifts to Charity

NOTE: This is a guide on entering Gifts to Charity into the TaxSlayer program.  This is not intended as tax advice.