Instructions For Form 8283 (Page 3 of 4) in pdf

claimed as a deduction for this tax year

Appraisal Requirements

Column (i).—Complete column (i) only if

and in any earlier tax years for gifts of a

you donated securities for which market

The appraisal must be made not earlier

partial interest in the same property. If

quotations are considered to be readily

than 60 days before the date you

available because the issue satisfies the

the organization that received the prior

contribute the property. You must

interest in the property is the same as

five requirements described in

receive it before the due date (including

the one listed on line 1, column (a), do

Regulations section 1.170A-13(c)(7)(xi)(B).

extensions) of the return on which you

not complete line 2c.

first claim a deduction for the property.

Part II, Taxpayer (Donor)

For a deduction first claimed on an

Lines 3a–3c

Statement

amended return, the appraisal must be

Complete lines 3a–3c only if you

If you (the donor) complete Part II, the

received before the date the amended

attached restrictions to the right to the

donee is relieved of filing Form 8282 for

return was filed.

income, use, or disposition of the

items valued at $500 or less. See the

A separate qualified appraisal and a

donated property. Attach a statement

Note in the Part IV instructions on page

separate Form 8283 are required for

explaining:

4 for more information on the filing of

each item of property except for an item

The terms of any agreement or

Form 8282 by the donee.

which is part of a group of similar items.

understanding regarding the restriction,

Complete Part II only for items

Only one appraisal is required for a

and

included in Part I that have an appraised

group of similar items contributed in the

Whether the property is designated for

value of $500 or less per item. Be sure

same tax year, if it includes all the

a particular use.

to clearly identify these items in Part II.

required information for each item.

This is necessary because the donee

An example of a “restricted use” is

The appraiser may select any items

may not know the value of the donated

furniture that you gave only to be used

whose aggregate value is appraised at

property, since you are not required to

in the reading room of an organization’s

$100 or less for which a group

show it in Part I on the donee’s copy of

library.

description rather than a specific

Form 8283.

description of each item will suffice.

The amount of information you give in

Section B

If you gave similar items to more than

Part II depends on the description of the

one donee for which you claimed a total

Part I, Information on Donated

donated property you enter in Part I. If

deduction of more than $5,000, you

you separately show a single item as

Property

must attach a separate form for each

“Property A” in Part I and that item is

donee.

You must have a written appraisal from a

appraised at $500 or less, then the entry

qualified appraiser that supports the

Example. You claimed a deduction of

“Property A” in Part II is enough.

information in Part I. However, see the

$2,000 for books given to College A,

However, if “Property A” consists of

Exception below.

$2,500 for books given to College B,

several items and the total appraised

and $900 for books given to a public

Use Part I to summarize your

value is over $500, list in Part II any

library. You must attach a separate Form

appraisal(s). Generally, you do not need

item(s) you gave that is valued at $500

8283 for each donee.

to attach the appraisals but you should

or less.

keep them for your records. But see Art

See Regulations section

All shares of nonpublicly traded stock

Valued at $20,000 or More below.

1.170A-13(c)(3)(i)–(ii) for the definition of

or items in a set are considered one

a “qualified appraisal” and information to

Exception. You do not need a written

item. For example, a book collection by

be included in the appraisal.

appraisal if the property is:

the same author, components of a

1. Nonpublicly traded stock of

stereo system, or six place settings of a

Line 5

pattern of silverware are one item for the

$10,000 or less,

Note: You must complete at least

$500 test.

2. Securities for which market

column (a) of line 5 (also column (b) if

quotations are readily available (see

Example. You donated books valued at

applicable) before submitting For m 8283

$6,000. The appraisal states that one of

Regulations section 1.170A-13(c)(7)(xi)),

to the donee. You may then complete

the items, a collection of books by

3. Donated by a C corporation (other

the remaining columns.

author “X,” is worth $400. On the Form

than a closely held corporation or

Column (a).—Describe the property in

8283 that you are required to give the

personal service corporation), or

enough detail so that a person not

donee, you decide not to show the

4. Inventory and other property

familiar with it could tell that the

appraised value of all of the books. But

donated by a closely held corporation or

property appraised is the property that

you also don’t want the donee to have

a personal service corporation that are

was contributed.

to file Form 8282 if the collection of

“qualified contributions” for the care of

Column (c).—Include the FMV from the

books is sold. If your description of

the ill, the needy, or infants, within the

appraisal. If one was not required,

Property A on line 5 includes all the

meaning of section 170(e)(3)(A).

include the FMV you determine to be

books, then specify in Part II the

Although a written appraisal is not

correct.

“collection of books by X included in

required for the types of property listed

Property A.” But if your Property A

Columns (d)–(f).—If you have

above, you must provide certain

description is “collection of books by X,”

reasonable cause for not providing the

information in Part I of Section B (see

the only required entry in Part II is

information asked for in any of these

Regulations section 1.170A-13(c)(4)(iv))

“Property A.”

columns, attach an explanation so that

and have the donee organization

your deduction won’t be automatically

In the above example you may have

complete Part IV.

disallowed.

chosen instead to give a completed

Art Valued at $20,000 or More.—If your

copy of Form 8283 to the donee. The

Column (g).—A bargain sale is a

total deduction for art is $20,000 or

donee would then be aware of the value.

transfer of property that is in part a sale

more, you must attach a complete copy

If you include all the books as Property

or exchange and in part a contribution.

of the signed appraisal. For individual

A on line 5, and thus enter $6,000 in

Enter the amount received

objects valued at $20,000 or more, a

column (c), you may still want to

(“consideration”) for bargain sales.

photograph of a size and quality fully

describe the specific collection in Part II

Column (h).—Complete column (h) only

showing the object, preferably an 8

so the donee can sell it without filing

if you were not required to get an

10 inch color photograph or a color

Form 8282.

appraisal, as explained earlier.

transparency no smaller than 4

inches, must be provided upon request.

Page 3

Instructions For Form 8283 Page 3

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