Instructions For Form 8283 printable pdf download

Department of the Treasury

Internal Revenue Service

Instructions for Form 8283

(Revised November 1992)

Noncash Charitable Contributions

(Section references are to the Internal Revenue Code unless otherwise noted. )

General Instructions

Ordinary income property is property

Who Must File

that would result in ordinary income or

You must file Form 8283 if the amount

short-term capital gain if it were sold on

Paperwork Reduction Act Notice

of your deduction for all noncash gifts is

the date it was contributed. Examples of

We ask for the information on this form

more than $500. For this purpose,

ordinary income property are inventory,

“amount of your deduction” means your

to carry out the Internal Revenue laws of

works of art created by the donor, and

the United States. You are required to

deduction before applying any income

capital assets held for 1 year or less.

give us the information. We need it to

limitations that could result in a

The deduction for a gift of ordinary

ensure that you are complying with

carryover. The carryover rules are

income property is limited to the FMV

these laws and to allow us to figure and

explained in Pub. 526.

minus the amount that would be

collect the right amount of tax.

If you must file Form 8283, you may

ordinary income or short-term capital

need to complete Section A, Section B,

The time needed to complete and file

gain if the property were sold at its FMV.

this form will vary depending on

or both, depending on the type of

Capital gain property is property that

individual circumstances. The estimated

property donated and the amount

would result in long-term capital gain if it

average time is:

claimed as a deduction. See Which

were sold at its FMV on the date it was

Sections To Complete on this page.

Recordkeeping

20 min.

contributed. It includes certain real

Form 8283 is filed only by individuals,

property and depreciable property used

Learning about the law

partnerships, S corporations, closely

in your trade or business, and generally

or the form

26 min.

held corporations, personal service

held for more than 1 year. You usually

corporations, and other C corporations.

Preparing the form

35 min.

may deduct gifts of capital gain property

Note: C corporations, other than

at their FMV. However, you must reduce

Copying, assembling,

personal service corporations and closely

the FMV by the amount of the

and sending the form

held corporations, must file For m 8283

appreciation if:

to the IRS

35 min.

only if the amount claimed as a

The capital gain property is

If you have comments concerning the

deduction is over $5,000.

contributed to certain private

accuracy of these time estimates or

Reductions to Fair Market Value

nonoperating foundations,

suggestions for making this form more

(FMV).—Make any required reductions

simple, we would be happy to hear from

You choose the 50% limit instead of

to FMV before you determine if you

the special 30% limit, or

you. You can write to both the IRS and

must file Form 8283. Attach a

the Office of Management and Budget

The contributed property is tangible

computation to your tax return showing

at the addresses listed in the

personal property that is put to an

the reduction. The amount of the

instructions of the tax return with which

unrelated use by the charity.

reduction (if any) depends on whether

this form is filed.

Caution: If you contr ibuted capital gain

the property is ordinary income property

property, you may owe the alternative

Purpose of Form

or capital gain property. See the FMV

minimum tax. For details, get Form

discussion below.

Use Form 8283 to report certain

6251, Alter native Minimum Tax—

required information about noncash

When To File

Individuals, and its instructions.

charitable contributions. Do not report

Qualified Conservation Contribution.—

File Form 8283 with your tax return for

on Form 8283 out-of-pocket expenses

If your donation qualifies as a “qualified

the tax year you contribute the property

for volunteer work or amounts you gave

conservation contribution” under section

and first claim a deduction.

by check or credit card. Treat these

170(h), attach a statement that shows

items as cash contributions.

Fair Market Value (FMV)

the claimed FMV of the underlying

property before and after the gift and the

Additional Information

Although the amount of your deduction

conservation purpose furthered by the

determines if you have to file Form

Do not use this form to figure your

gift.

8283, you also need to have information

charitable contribution deduction. For

about the value of your contribution to

Which Sections To Complete

details on how to figure the amount of

complete the form.

the deduction, see your tax return

Section A

FMV is the price a willing buyer would

instructions. You may also want to get

pay a willing seller when neither has to

Pub. 526, Charitable Contributions (for

Include in Section A only items (or

buy or sell, and both are aware of the

individuals), and Pub. 561, Determining

groups of similar items as defined on

sale conditions.

the Value of Donated Property. If you

page 2) for which you claimed a

contributed depreciable property, get

deduction of $5,000 or less per item (or

You may not always be able to deduct

Pub. 544, Sales and Other Dispositions

group of similar items). Also, include the

the FMV of your contribution. Depending

of Assets.

following publicly traded securities even

on the type of property donated, you

if the deduction exceeds $5,000:

may have to reduce the FMV to get to

the deductible amount, as explained

1. Securities listed on an exchange in

next.

which quotations are published daily,

Cat. No. 62730R

Instructions For Form 8283

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