1120-US: Form 8283 - different amounts for allowed contributions and the donated property FMV (FAQ)

Alerts and notices
Leave feedback

Contact information (optional):

Leave this blank:

Please tell us how we can make this information more helpful.


Characters left:

Question

What data entry is required when the allowed contribution amount is different than the FMV of the donated property?

Answer

In some cases, the amount claimed as a deduction is not equal to the Fair Market Value (FMV) of the donated property, either because the FMV must be reduced or because the original cost of the property is the maximum contribution amount. When the allowed contribution amount is different than that of the FMV of the donated property, enter the contribution amount in the Contribution amount if different than fair market value field in Screen 8283.

Related topic: 1120-US: Form 8283 - Noncash charitable contributions FAQs

Share This