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Charitable Contribution

Futch2010
Level 2

Have client who donated various military items, including a 1953 Jeep, to a museum.  There is no appraisal only a letter from the museum indicating all the items donated, condition and amounts.  Will I need an appraisal or can I just submit this letter as a PDF?  Additionally, what other forms do I need to fill out besides form 8283 and 8453?

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3 Replies 3
sjrcpa
Level 15

What is the alleged FMV of his donation?

 

And, where did the museum get the amount  they put on the letter?


ex-AllStar
Futch2010
Level 2

alleged FMV of all donations, $31000

Museum based items on comparative value, classic cars.com and Ebay Motors with all items being of historical matter and in excellent condition, per the letter

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jeffmcpa2010
Level 8

Start here

https://www.irs.gov/instructions/i8283

The following is part of the introduction, but the details are in the link.

You must file one or more Forms 8283 if the amount of your deduction for each noncash contribution is more than $500. You must also file Form 8283 if you have a group of similar items for which a total deduction of over $500 is claimed. See Similar Items of Property, later. For this purpose, "amount of your deduction" means your deduction before applying any income limits that could result in a carryover. The carryover rules are explained in Pub. 526. Make any required reductions to fair market value (FMV) before you determine if you must file Form 8283. See Fair Market Value (FMV), later.