Form 8283 is used to report noncash charitable contributions made during the tax year. This form helps provide details about donated property, such as its value, acquisition method, and recipient organization.
⚠️ Important: Do not use Form 8283 to report:
✔️ Out-of-pocket expenses for volunteer work
✔️ Donations made by cash, check, or credit card (these are considered cash contributions)
✔️ To calculate the charitable contribution deduction itself
Steps to Add Form 8283 - Noncash Charitable Contributions
1. Access the Deductions Section
From the left-side menu, select Deductions.
Click on Schedule A to begin.
2. Locate the Gifts to Charity Section
Scroll down to find the Gifts to Charity section.
Next to Line 12 - Noncash Contributions from Form 8283, click the green window icon to proceed.
3. Enter Noncash Charitable Contribution Details
A. Donee (Recipient Organization) Information
Enter the organization's name and address.
If donating a vehicle, provide the Vehicle Identification Number (VIN).
B. Property Donation Details
Describe the donated property (e.g., clothing, artwork, real estate).
Enter the date of contribution.
If the deduction claimed is $500 or less, columns (e), (f), and (g) do not need to be completed.
C. Additional Property Details
Date Property Acquired: Enter the acquisition date or check the box if acquired over time.
Acquisition Method: Select how the donor acquired the property (e.g., purchase, inheritance, gift).
Donor's Cost or Adjusted Basis: Input the original cost or adjusted value of the donated property.
Fair Market Value (FMV): Provide the FMV of the donated property.
Method Used to Determine FMV: Choose one of the following methods:
Appraisal
Thrift shop value (for household items/clothing)
Catalog (for stamp or coin collections)
Comparable sales (for real estate or similar assets)
Final Notes
✔️ Donations over $500 require Form 8283.
✔️ Contributions over $5,000 may require an appraisal for verification.
✔️ The recipient must be a qualified charitable organization for the deduction to be valid.
By following these steps, taxpayers can accurately report noncash charitable contributions using Form 8283 in TenForty, ensuring compliance with IRS regulations.