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How to prepare Form 8282
About Form 8282
Form 8282 is a document required by the Internal Revenue Service (IRS) for organizations that have received donated property valued at more than $5,000 from a non-individual donor, such as a corporation or partnership. The form must be filed by the organization that received the donation and provides information about the donated property, the donor, and the fair market value of the property at the time of the donation. The purpose of Form 8282 is to provide the IRS with information on whether the donated property is sold or exchanged within two years of the donation. The form must be filed within 125 days of the date of disposition of the property or the date the organization becomes aware of the disposition, whichever is earlier. Failure to file Form 8282 can result in penalties for the organization and the donor.
What Is 8282?
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