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  • 1.  8283 Signing

    Posted 12-28-2023 03:21 PM

    An 8283 was submitted for our signature where in part A a collection of 6 items gifted (without appraisal, but with FMV support) totaled $7,000 and part B included one item appraised at $6,800. All items are medical equipment. My understanding is that the $7,000 items should be in part B also as they total over $5,000. At the mention of this to the donor, he advised he did not put them in B because they were not in the appraisal. He has requested our signature as-is. Do we sign and let him work it out with his tax advisor?



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    Jayme Fancher
    San Diego State University
    jfancher@sdsu.edu
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  • 2.  RE: 8283 Signing

    Posted 12-28-2023 04:05 PM
    Your signature is an affirmation that you received the property. It doesn't mean you agree to what the items are worth or whether they're a collection. The IRS does not ask nonprofits to adjudicate whether the form has been filled out in a manner that will maximize the allowed deduction. You've told the donor your concern, and they've asked you to sign anyway, I think you go ahead and sign, and drop a memo to the file to keep a record of why.


    Thank you,
    Isaac Shalev
    Data Strategy Expert
    Sage70, Inc.
    (917) 859-0151
    isaac@sage70.com

    Schedule a 30-minute consultation now:






  • 3.  RE: 8283 Signing

    Posted 12-28-2023 04:11 PM

    Thank you!



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    Jayme Fancher
    San Diego State University
    jfancher@sdsu.edu
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  • 4.  RE: 8283 Signing

    Posted 12-28-2023 04:11 PM
    Agreed. Furthermore, your signature affirms only the receipt of items outlined in Part B!

    John

    John H. Taylor 
    919.816.5903 (Cell/Text)

    Big Ideas; Small Keyboard