NY Form 8282 2021-2025

NY Form 8282: What You Should Know

What's a Noncash Contribution? Noncash contributions include gifts made to done charities in the form of an expression of interest as described in IRC Section 170(a)(9). Other examples of noncash contributions include the following donations: Example A: Charitable gift of 1.05 to a charity for which you did not claim an income tax deduction. For purposes of the gift tax, your donation of the 1.05 must be reported on Form 8283, as a noncash contribution. For example, consider the following facts: (1) Charitable gifts of 400 or less to done organizations are not required to be reported on Form 8283, and are not taxable gifts under Section 167(a)(2). However, you do have to report the income of the donor at your tax filing required income level. (2) For purposes of the gift tax, charitable gifts of less than 40 must be assessed tax at the highest of the fair market value of the donor's contribution, or the amount included on your Form 1040 Form 1040 (or your Form 1040A Form 1040-A), depending on the amount donated. The fair market value of the gift is generally the amount that is equal to the amount paid, less any deductions claimed. Example B: Charitable gift of a car. This gift may be either noncash or noncash and taxable. For information on this gift and the other gifts, see below. An “expression of interest” is a written agreement that states that you have agreed to do any of the following in connection with donating your vehicle to a done charity. In most cases, the donor's name will be spelled out on the donor disclosure statement that was prepared, but the donor may write a different name if they wish (see Example C). The donor disclosure statement is used by all done organizations when they report their donations of real property to the IRS. In most cases, the charity would first notify the property's registered transfer agent when making the transfer (in most cases, property that is a gift is not registered with the transfer agent, if it is being sold or transferred as an investment), and then follow up by sending a written request to the transfer agent asking that the transfer be handled accordingly.

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