What Is Form 8283: Noncash Charitable Contributions?

What Is Form 8283: Noncash Charitable Contributions?

I'm here to explain Form 8283, which is the IRS tax form you use if you're deducting non-cash contributions to a qualifying charitable organization. You report these as itemized deductions on your return. Non-cash items can include things like securities, property, vehicles, collectibles, and art. You can download the form right from the IRS website.

Remember, donated non-cash items might need an appraisal to figure out their value, but that's not the case for private stock worth $10,000 or less or for intellectual property. Don't use this form for out-of-pocket expenses from volunteer work or for cash or credit card donations.

Who Can File Form 8283: Noncash Charitable Contributions?

You can file this form if you're an individual, partnership, or corporation reporting non-cash contributions where the deduction is more than $500. For C corporations, the threshold is higher at $5,000. Each form lets you list up to five donations to different organizations, and if you have more, just attach additional Forms 8283 to your 1040.

Again, skip this form for volunteer expenses or cash contributions. And keep in mind, Form 8283 doesn't calculate your overall charitable contribution limits—that's something you handle separately.

How to File Form 8283: Noncash Charitable Contributions

Start by entering your name and identifying number— that's your SSN if you're an individual or EIN for corporations. Then, for each donation in Part I of Section A, fill in the details: the organization's name and address, VIN if it's a vehicle, a description of the property (include year, make, model, mileage, and condition for vehicles, or name and shares for securities), date of contribution, when you acquired it, how you got it, cost or adjusted basis (leave this blank if held for at least 12 months or for publicly traded securities), fair market value, and how you determined that value.

If you're donating less than the entire interest in a property, complete Part II. Also, if it's a motor vehicle, boat, or airplane, you might attach Form 1098-C showing gross proceeds.

Appraisals for Your Donations

You might need an appraisal for items like art worth $20,000 or more, most jewelry and gems, or used household goods over $500 not in good condition. But appraisals aren't required for publicly traded securities, inventory for sale in your business, qualified vehicles where the deduction is limited to sale proceeds with written acknowledgment, or intellectual property.

For Section B, Part I, you and the appraiser fill it out, and the appraiser signs a declaration. You don't submit the appraisal with the form, but keep it in your records. The receiving organization must sign an acknowledgment with their details and an authorized signature.

The Bottom Line on Form 8283

If you're claiming a tax deduction for a non-cash donation, you may need to appraise its value, and you'll list it on Form 8283 when filing with the IRS. Items like high-value art or most jewelry require appraisals, while intellectual property and low-value private stock do not. Individuals, partnerships, and corporations can all use this form to report their contributions.