Charitable Giving Changes Summarized
|Note: A number of appraisal-related changes to charitable giving have gone into effect in 2007.
Summary of charitable giving provisions of the Pension Protection Act of 2006 compiled by the House Ways and Means Committee
Detail on Pension Protection Act of 2006 compiled by the congressional Joint Committee on Taxation
IRS Guidance Regarding Appraisal Requirements for Non-cash Charitable Contribution
DEDUCTIONS MORE THAN $5,000
What Is IRS form 8283f IRS Non-Cash Charitable Contribution
Donations of property valued between $500 to $5,000 require detailed records of how you initially got the property and the approximate date you received it, in addition to a receipt and the approximate date you received it, with written acknowledgment. You must file Form 8283 (PDF)
, Non-cash Charitable Contributions, for all donations of property valued at more than $500. In addition to every requirement stated above, contributions over $5,000 require a written appraisal from a qualified professional appraiser.