I am donating a 5th wheel trailer in good condition to a charity. It is a vehicle, and has a VIN, but is not a motor vehicle, boat or airplane. It is my understanding that the charity will be keeping the trailer for volunteers to stay in while working on projects for the charity... but of course, those plans could change after I donate the trailer... so they might sell it within 3 years.
I printed out a JD Powers NADA valuation guide that indicates the trailer (without options... and it has some that should increase it's value) has a low retail value of $4560, and a high retail value of $5500. So I think $4999 should be extremely fair and easily defendable, right?
I'm thinking all I need to fill out is a form 8283, Part 1, line 1, columns a-i. In column (b), I'll check the box, but not enter a VIN, since I will attach a form 1098-C (see below). In Column (i) for method used to determine the fair market value, I'd enter "used vehicle guide"
I'm thinking I should also have the Charity complete a Form 1098-C , filling out the donee information, my name (as donor) and address, and
1 Date of contribution
2b Year 2c Make 2d Model
3 Vehicle or other identification number
and 5a Donee certifies that vehicle will not be transferred for money, other property, or services before completion of material improvements or significant intervening use
Then submit that form 1098-C along with the form 8283, and keep the NADA guide for my records, and I should be... fine?
what do you think?
