PriorTax | Noncash Charitable Contributions - Form 8283

Noncash Charitable Contributions - Form 8283

File Form 8283 to report noncash charitable contributions to the IRS, but only if the amount of your deduction for noncash gifts is greater than $500.

In determining if you must file Form 8283, be sure to take the amount of your deduction before applying income limits that could result in a carryover and make any required reductions to fair market value (FMV).

If your total deduction for all noncash contributions amounts to $500 or more, complete Section A of Form 8283. But if you are claiming a deduction of over $5,000 for any one item or group of items, you must complete Section B. Note: Do not complete Section A for items listed in Section B.

You must file Form 8283 with your return for the year that you donate the property and first claim a deduction.

Keep in mind that you cannot use Form 8283 for contributions made by check or credit card - they are treated as cash contributions. Nor can you use Form 8283 to report out-of-pocket expenses for volunteer work or to figure your charitable contribution deduction.