For noncash charitable contributions, you must provide a detailed description of the donated property on Form 8283, Section B, Part I, Line 3, Column (a). The description should be thorough enough that someone unfamiliar with the property could identify it as the item that was appraised and contributed. The level of detail required increases with the value of the property.
Specific Description Requirements
- General Property: Include details such as type, size, age, condition, and any unique features. For example, for a vehicle, include make, model, year, VIN, and mileage.
- Securities: Specify the company name and number of shares donated. Do not include securities reportable in Section A of Form 8283.
- Qualified Conservation Contribution: Describe the easement terms in detail, including acreage or land donated, or attach a copy of the easement deed.
- Real or Tangible Personal Property: Also describe its physical condition at the time of the gift in Column (b).
Additional Guidance
- If you are donating similar items (e.g., books, clothing, jewelry), you may report them collectively if their total value exceeds $500. However, if any individual item is valued at more than $100, you must describe each separately.
- For partial interests or restricted use property (other than qualified conservation contributions), complete Part II of Section B and attach a statement explaining the terms of any restrictions.
Source:
Form 8283
Disclaimer: Always verify details with current IRS forms and instructions or consult a tax professional for personalized advice.