Form 8282 reporting requirements provide accounting for donated property exceeding $5,000. This lead provides an introduction to filing requirements for donee organizations and outlines two exceptions where Form 8282 is not required.
What is Form 8282?
Form 8282 is a form filed by donee organizations to the Internal Revenue Service and donors to report dispositions of charitable deduction property. The property must have been donated within three years and it must exceed $5,000 in value for each item or similar group of items. The form must be filed within 125 days of the disposition, unless the organization was unaware it was required to file, in which case 60 days will be given. Original donees are required to complete Form 8283 and those who dispose of motor vehicles, airplanes, and boats may need to consult Publication 526. Form 8282 does not need to be filed if items were worth $500 or less at the time of the donation or if the item was consumed or distributed for a charitable purpose.
IRS Form 8282 – Who Needs to Fill It Out?
IRS Form 8282 requires all donees, both original and successor, to fill it out if charitable deduction property is sold, exchanged, consumed, or otherwise disposed of within 3 years of being donated. Form 8282 must be filed within 125 days after the date of disposition, unless an exception such as items valued at $500 or less applies. There may be times that some information may not be available, such as Section B of form 8283, where some details may be missing. It is still important to enter the organization’s name, address, and EIN and fill out parts III & IV despite any missing information.
Step-by-Step: Form 8282 Instructions For Filling Out the Document
To fill out the Form 8282 document, the donee organization must provide their name, address, and employer identification number (EIN). Additionally, they must complete at least Part III, columns 1, 2, 3, and 4, as well as Part IV. If the donor did not make Section B of Form 8283 available or the organization does not know the information necessary to complete all entries, they may leave them blank. The organization must file the Form 8282 within 125 days after the date of disposition unless they meet one of the two exceptions stated in the Instructions For Filling Out the Document section.
Below, we present a table that will help you understand how to fill out Form 8282.
|Information Required for Form 8282||Details|
|Name and EIN||Provide the donee organization’s name, address, and employer identification number (EIN)|
|Form Sections||Complete at least Part III, columns 1, 2, 3, and 4, as well as Part IV|
|Exceptions||If the donor did not make Section B of Form 8283 available or the organization does not know the information necessary to complete all entries, they may leave them blank|
|Filing Deadline||Form 8282 must be filed within 125 days after the date of disposition unless meeting specific exceptions stated in the Instructions For Filling Out the Document section|
Do You Need to File Form 8282 Each Year?
Original and successor donee organizations must file Form 8282 if they dispose of charitable deduction property (or any portion) within 3 years after the date the original donee received it, unless it is valued at $500 or less or consumed/distributed for a charitable purpose. If so, the organization must file Form 8282 within 125 days after the date of disposition. However, if the organization had no reason to believe the substantiation requirements applied to the donor, the organization must file within 60 days after it becomes aware that it was liable. Enter the organization’s name, address, and EIN on the form and complete Part III and IV, even if not all items can be completed.
Download the official IRS Form 8282 PDF
On the official IRS website, you will find a link to download Form 8282. However, to make it easier for you, we are providing the link in our article, which comes directly from the official irs.gov website! Click to download: Form 8282