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IRS Rules- Non Cash Charitable Donations

Can I deduct non cash charitable contributions on my tax return?
 
Generally, non cash charitable contributions from individuals to charitable organizations (including most schools) are tax deductible on your tax return at fair market value to the extent of their tax basis (purchase price less depreciation). First, you should determine what the fair market value of the non cash charitable contributions is.
If the value of the non cash charitable contributions are more than $250 you must have the non cash charitable contributions substantiated by a contemporaneous written acknowledgment. Generally, the acknowledgment must include the amount of cash and a description of the non cash charitable contributions, and a description and good-faith estimate of the value of any goods or services received for the non cash charitable contributions.
 
If the value of the non cash charitable contributions are more than $500, you must fill out Section A of Form 8283, Noncash Charitable Contributions.
 
If you make non cash charitable contributions of non cash property worth more than $5,000, generally an appraisal must be done. In that case, you also fill out Section B of Form 8283. Attach Form 8283 to your tax return. For more information on this requirement, refer to IRS Publication 526, Charitable Contributions.

*There may be inherent risks to us associated with a report that needs IRS Form 8283, therefore, additional fees will be incurred.