Item Donations More Than $500 (Form 8283) in header of articles
Item Donations More Than $500 (Form 8283) in content page of articles
Item donations are donations of property you give to qualified charitable organizations. Item donations include things like:
You can usually deduct the fair market value of an item in the year you donate it. You're required to get an appraisal and submit it with your return if:
The value of a household item you donate is more than $500 .
The item isn't in good condition.
If you're donating an item worth more than $500 , you need to know the basis of the property. For most items, this is the amount you paid for the donated item. This must take into account any additions or subtractions from basis while you held the property. However, if you received the item as a gift, your basis in the property is the donor's basis plus any gift taxes paid.
If you inherited the item, your basis will depend on the deceased's date of death:
The basis in the inherited property will usually be stepped-up to the fair market value on the deceased person’s date of death.
If the deceased died in 2010, the estate executor might have used the modified carryover basis rules. These rules were in place before the Tax Relief Act of 2010 was enacted. Under the modified carryover basis rules, the basis of the property will be the total of:
The deceased’s basis on the date of death
Any additions to basis the executor of the estate might choose to make using the $1.3 million discretionary basis adjustment
If the total of your item donations is more than $500 , you must file Form 8283: Noncash Charitable Contributions with your return. This applies if:
You donate a single item worth more than $500 .
You make a series of smaller donations that total more than $500 .
Special rules apply to donations of:
Cars and other vehicles
Appreciated property, like stock
Property valued at more than $5,000
To learn more, see:
IRS Publication 561: Determining the Value of Donated Property