Instructions For Form 8283 printable pdf download

Department of the Treasury

Internal Revenue Service

Instructions for Form 8283

(Revised October 1995)

Noncash Charitable Contributions

Paperwork Reduction

Who Must File

8283, you do not have to complete all

the information requested in Section A

Act Notice

You must file Form 8283 if the amount

for your share of the partnership’s or S

of your deduction for all noncash gifts is

corporation’s contributions. Complete

We ask for the information on this form

more than $500. For this purpose,

only column (g) of line 1 with your share

to carry out the Internal Revenue laws of

“amount of your deduction” means your

of the contribution and write “From

the United States. You are required to

deduction before applying any income

Schedule K-1 (Form 1065 or Form

give us the information. We need it to

limits that could result in a carryover.

1120S)” across columns (c)–(f).

ensure that you are complying with

The carryover rules are explained in Pub.

these laws and to allow us to figure and

526. Make any required reductions to

When To File

collect the right amount of tax.

fair market value (FMV) before you

File Form 8283 with your tax return for

determine if you must file Form 8283.

The time needed to complete and file

the year you contribute the property and

this form will vary depending on

See the FMV discussion on this page.

first claim a deduction.

individual circumstances. The estimated

Form 8283 is filed only by individuals,

average time is:

partnerships, S corporations, closely

Fair Market Value (FMV)

held corporations, personal service

Recordkeeping

20 min.

Although the amount of your deduction

corporations, and other C corporations.

determines if you have to file Form

Learning about the law

Note: C corporations, other than

8283, you also need to have information

or the form

26 min.

personal service corporations and closely

about the value of your contribution to

Preparing the form

35 min.

held corporations, must file Form 8283

complete the form.

only if the amount claimed as a

Copying, assembling,

FMV is the price a willing buyer would

deduction is over $5,000.

and sending the form

pay a willing seller when neither has to

Partnerships and S Corporations.—A

to the IRS

35 min.

buy or sell, and both are aware of the

partnership or S corporation that claims

If you have comments concerning the

sale conditions.

a deduction for noncash gifts of over

accuracy of these time estimates or

You may not always be able to deduct

$500 must file Form 8283 with Form

suggestions for making this form

the FMV of your contribution. Depending

1065 or 1120S. If the total deduction of

simpler, we would be happy to hear from

on the type of property donated, you

any item or group of similar items

you. See the instructions for the tax

may have to reduce the FMV to get to

exceeds $5,000, the partnership or S

return with which this form is filed.

the deductible amount, as explained

corporation must complete Section B of

next.

Form 8283 even if the amount allocated

General Instructions

Reductions to FMV.—Attach a

to each partner or shareholder does not

statement to your tax return showing

exceed $5,000.

Section references are to the Inter nal

how the reduction was figured. The

The partnership or S corporation must

Revenue Code unless otherwise noted.

amount of the reduction (if any) depends

give a completed copy of Form 8283 to

on whether the property is ordinary

Purpose of Form

each partner or shareholder who

income property or capital gain property.

receives an allocation of the contribution

Use Form 8283 to report certain

Ordinary income property is property

deduction shown in Section B of the

required information about noncash

that would result in ordinary income or

partnership’s or S corporation’s Form

charitable contributions.

short-term capital gain if it were sold on

8283.

Do not use Form 8283 to report

the date it was contributed. Examples of

Partners and Shareholders.—The

out-of-pocket expenses for volunteer

ordinary income property are inventory,

partnership or S corporation will provide

work or amounts you gave by check or

works of art created by the donor, and

information about your share of the

credit card. Treat these items as cash

capital assets held for 1 year or less.

contribution on your Schedule K-1 (Form

contributions. Also, do not use Form

The deduction for a gift of ordinary

1065 or Form 1120S).

8283 to figure your charitable

income property is limited to the FMV

In some cases, the partnership or S

contribution deduction. For details on

minus the amount that would be

corporation must give you a copy of its

how to figure the amount of the

ordinary income or short-term capital

Form 8283. In these cases, attach a

deduction, see your tax return

gain if the property were sold at its FMV.

copy of the Form 8283 you received to

instructions.

Capital gain property is property that

your tax return. Deduct the amount

would result in long-term capital gain if it

Additional Information

shown on your Schedule K-1, not the

were sold at its FMV on the date it was

amount shown on the Form 8283.

You may want to get Pub. 526,

contributed. It includes certain real

Charitable Contributions (for individuals),

If the partnership or S corporation is

property and depreciable property used

and Pub. 561, Determining the Value of

not required to give you a copy of its

in your trade or business, and generally

Donated Property. If you contributed

Form 8283, combine the amount of

held for more than 1 year. You usually

depreciable property, get Pub. 544,

noncash contributions shown on your

may deduct gifts of capital gain property

Sales and Other Dispositions of Assets.

Schedule K-1 with your other noncash

at their FMV. However, you must reduce

contributions to see if you must file

the FMV by the amount of any

Form 8283. If you need to file Form

appreciation if:

Cat. No. 62730R

Instructions For Form 8283

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