is there a form required for non cash donations?
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Yes, there is tax form 8283 for non cash contributions exceeding value of $500.
This is to ensure that the value reported is accurate. Non-cash items are valued at the fair market value on the date of the donation.
For more information, follow this link: https://www.irs.gov/forms-pubs/about-form-8283
Yes, there is tax form 8283 for non cash contributions exceeding value of $500.
This is to ensure that the value reported is accurate. Non-cash items are valued at the fair market value on the date of the donation.
For more information, follow this link: https://www.irs.gov/forms-pubs/about-form-8283
How do I enter a non-cash charitable deduction of over $500 in It's Deductible?
How to enter a non cash property donation of $100,000 to a 501(c) (3). Thanks
How to enter in turbo tax software a property donation of $100,000 to a 501c3
To enter a Charitable Donation of property in TurboTax:
The basic rule is that your contributions to qualified public charities, colleges and religious groups generally can't exceed 60 percent of your Adjusted Gross Income (AGI).
Click this link for more info on Charitable Contributions.
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