Resources
IRS Forms and Publications
The following forms and publications are available in printable format by clicking on the name.
- IRS Form 8283, Noncash Charitable Contributions
- IRS Form 8282, Donee Information Return
- IRS Publication 526, Charitable Contributions
- IRS Publication 561, Determining the Value of Donated Property
The phone number for the IRS is (800) 829-3676 and the website is www.irs.gov, where more recent forms and publications, if available, can be downloaded.
Appraisals
Appraisals serve to provide an objective value of a property and, therefore, are needed for any transfer of ownership, whether through sale or donation. Two sources of information on appraisals are professional association websites: the Appraisal Institute and the American Society of Appraisers.
In general, noncash gifts worth more than $5,000 must have a “qualified appraisal” if the gift is to be claimed as an income tax charitable deduction. The IRS requires a “qualified appraisal” made by a “qualified independent appraiser”.
The IRS has specific guidelines governing qualified appraisals and qualified appraisers. In general, a qualified appraisal is an appraisal document that, in part:
- Includes a description of the property including its size and condition; date of donation and any conditions of use; the details and qualifications of the appraiser; the date(s) of the actual appraisal; and a discussion of the fair market value and the method used to determine it;
- Must be in writing and set forth the methods used in determining the fair market value and the reasons such methods were used; and
- Is prepared, signed, and dated by a qualified appraiser.
The IRS currently requires donors to obtain a qualified appraisal within 60 days prior to donation. Form 8283, Noncash Charitable Contributions, must be submitted with the donor’s tax return to substantiate the tax deduction. Generally, donors do not need to attach the qualified appraisal itself, but they should keep a copy for their records.
A qualified independent appraiser is an individual who declares that he or she performs appraisals regularly, has the qualifications to serve as an appraiser, and who details any relationship he or she may have with the parties engaging in the transaction or anyone else who could control or materially influence the actions of the appraiser, or vice versa.
For more information, donors should speak with an attorney, accountant or financial advisor, or contact the IRS. The donor can obtain IRS Form 8283, Noncash Charitable Contributions; IRS Publication 561, Determining the Value of Donated Property; and IRS Publication 526, Charitable Contributions free of charge by calling the IRS at (800) 829-3676 or the donor can download the publications directly from the IRS Web site. The forms and publications are also available in printable format in IRS Forms and Publications above.
The information provided above is subject to change at anytime by the IRS.
An Overview of IRS Filing Requirements
When a noncash gift is made to a nonprofit organization or educational institutions, both the donor and the nonprofit must follow certain guidelines for substantiating and reporting such gifts.
Donors’ Filing Requirements: IRS Form 8283, Noncash Charitable Contributions
For noncash gifts valued over $5,000, including real estate, the IRS requires that Form 8283, Noncash Charitable Contributions, be filed if the amount is claimed as a charitable income tax deduction. The donor must complete Section B, Parts I and II, of Form 8283. The qualified appraiser and the donee nonprofit must also sign this Form. The appraiser must complete and sign Section B, Part III, and the donee nonprofit must complete and sign Section B, Part IV. Generally, donors do not need to attach the qualified appraisal itself, but donors should keep a copy for their records. Get Form 8283.
For complete information and for advice concerning donors’ specific filing requirements, donors should speak with an attorney, accountant or financial advisor, or contact the IRS.
The information provided above is subject to change at anytime by the IRS.
Nonprofits’ Filing Requirements: IRS Form 8282, Donee Information Return
If a nonprofit organization sells, exchanges or otherwise disposes of donated real estate having a value of $5,000 or more, the nonprofit must complete and file IRS Form 8282, Donee Information Return, within two years of the date the gift was made. A copy of this Form must also be sent to the donor. Get Form 8282.
For complete information and for advice concerning nonprofits’ specific filing requirements, nonprofits should speak with an attorney, accountant or financial advisor, or contact the IRS.
The information provided above is subject to change at anytime by the IRS.
