3.3 Itemized Deductions/Standard Deductions: Gifts & Charitable Contributions
I donated a used car to a qualified charity. I itemize my deductions,
and I would like to take a charitable contribution for the donation. Do I
need to attach any special forms to my return? What records do I need to keep?
If you claim a deduction on your return of over $500 for all contributed
property, you must attach a Form 8283 (PDF), Noncash
Charitable Contributions, to your return. If you claim a total deduction
of $5,000 or less for all contributed property, you need only complete Section
A of Form 8283. If you claim a deduction of more than $5,000 for an item or
a group of similar items, you generally need to complete Section B of Form
8283 which requires a qualified appraisal by a qualified appraiser.
You will need to obtain and keep evidence of your car donation and be able
to substantiate the fair market value of the car. If you are claiming a deduction
of $250 or more for the car donation, you will also need a written acknowledgement
from the charity that includes a description of the car and a statement of
whether the charity provided any goods or services in return for the car and,
if so, a description and estimate of the fair market value of the goods or
services.
For more information on these requirements, refer to Publication 526, Charitable
Contributions, Publication 561, Determining the Value of Donated
Property; Form 8283, Noncash Charitable Contributions; and its instructions,
and Tax Topic 506, Contributions.
References:
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