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Old 02-22-2004, 12:56 AM
Al Bundy
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Default Re: Form 8283 driving me insane -- HELP!!!!

"Aaron Ackerman" <none[at]nospam.com> wrote in news:1039rgsbr1ukf76

- quote -

> I made two separate Non-Cash contributions last year to a
> charitiable contribution. They were a series of fairly
> expensive electronics and other items. (I use TaxCut by the
> way).
> I placed a the "Thrift Shop Value" at $358 and $305. I
> printed out the form and thought I would sign and send on. I
> started to read the instructions and it started to drive me
> up the wall! It started talking about Donee form 8282 and
> appraisers, are they kidding me. If I had known that I would
> have backed the true value back to a lesser value.
> What do i need to do to fill this form out? Do I need an
> appraiser? Is there any way I can back these values out and
> file an ammended return (without triggering an audit and
> would I have to file 8283 anyway). What do I do?


You don't need appraisals for those items. What it does say
though is:

Reference: http://www.irs.gov/pub/irs-pdf/p526.pdf Page 14
------------
Noncash contributions. If your total deduction for all
noncash contributions for the year is over $500, you must
complete Section A of Form 8283, and attach it to your Form
1040.
.......
The Internal Revenue Service can disallow your deduction for
noncash charitable contribubutions if it is more than $500
and you do not submit a required Form 8283 with your
return.
-------------

http://www.irs.gov/pub/irs-pdf/f8283.pdf
All you have to do is list the items in Section A, Part 1.
The rest probably doesn't apply to your case and you can
ignore it.TaxCut will generate this form for you by default.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
  #2  
Old 02-22-2004, 12:36 AM
Nan Eklund
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Posts: n/a
Default Re: Form 8283 driving me insane -- HELP!!!!

All you need is the first section, the first two lines. To
whom did you donate? And their address (I use "pick up
truck"). A date of donation, the words "purchase", your FMV
and.....for how did you get the value.....I use "Salvation
Army list from internet". Which we downloaded for the
office and copied. Much valued by our clients.

8283 is a nuisance, but you are going too far on it.

Nan, EA in LA

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
  #1  
Old 02-21-2004, 11:17 PM
Christopher Green
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Posts: n/a
Default Re: Form 8283 driving me insane -- HELP!!!!

"Aaron Ackerman" <none[at]nospam.com> wrote:

- quote -

> I made two separate Non-Cash contributions last year to a
> charitiable contribution. They were a series of fairly
> expensive electronics and other items. (I use TaxCut by the
> way).
> I placed a the "Thrift Shop Value" at $358 and $305. I
> printed out the form and thought I would sign and send on. I
> started to read the instructions and it started to drive me
> up the wall! ...


You're OK so long as the value of each item or group of
similar items is under $5,000. Over that, the rules on Part
B, appraisal, donee notification, and Form 8282 kick in.

At $358 and $305, you didn't even need to state a valuation
method, apparently. The cutoff for that is $500.

--
Chris Green

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 
Old 02-21-2004, 11:16 PM
Harlan Lunsford
Guest
 
Posts: n/a
Default Re: Form 8283 driving me insane -- HELP!!!!

Aaron Ackerman wrote:

- quote -

> I made two separate Non-Cash contributions last year to a
> charitiable contribution. They were a series of fairly
> expensive electronics and other items. (I use TaxCut by the
> way).
> I placed a the "Thrift Shop Value" at $358 and $305. I
> printed out the form and thought I would sign and send on. I
> started to read the instructions and it started to drive me
> up the wall! It started talking about Donee form 8282 and
> appraisers, are they kidding me. If I had known that I would
> have backed the true value back to a lesser value.
> What do i need to do to fill this form out? Do I need an
> appraiser? Is there any way I can back these values out and
> file an ammended return (without triggering an audit and
> would I have to file 8283 anyway). What do I do?


Sorry, I can't share your frustration, since you only need a
formal appraisal if values over 5000$.

Don't sweat the small stuff.

Cheer$,
harlan Lunsford, EA n LA

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
  #-1  
Old 02-19-2004, 04:10 PM
Aaron Ackerman
Guest
 
Posts: n/a
Default Form 8283 driving me insane -- HELP!!!!

I made two separate Non-Cash contributions last year to a
charitiable contribution. They were a series of fairly
expensive electronics and other items. (I use TaxCut by the
way).

I placed a the "Thrift Shop Value" at $358 and $305. I
printed out the form and thought I would sign and send on. I
started to read the instructions and it started to drive me
up the wall! It started talking about Donee form 8282 and
appraisers, are they kidding me. If I had known that I would
have backed the true value back to a lesser value.

What do i need to do to fill this form out? Do I need an
appraiser? Is there any way I can back these values out and
file an ammended return (without triggering an audit and
would I have to file 8283 anyway). What do I do?

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 

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