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Non-Cash Charitable Contributions
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globali...@my-dejanews.com
Oct 31, 1998, 3:00:00 AM10/31/98
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IRS Form 8283 is used to itemize a non-cash charitable contribution. Sounds
tedious, doesn't it? Especially when you haven't had anything good to donate
to a charity lately. But what this form really does is let you do a good
clean-up in the garabe and attic, donate a bunch of your old junk to charity,
and take a deduction for the fair market value. $2,000 worth puts about $800
back in your pocket at a 40% tax rate.
tedious, doesn't it? Especially when you haven't had anything good to donate
to a charity lately. But what this form really does is let you do a good
clean-up in the garabe and attic, donate a bunch of your old junk to charity,
and take a deduction for the fair market value. $2,000 worth puts about $800
back in your pocket at a 40% tax rate.
The Tax Library at
http://www.cyberhaven.com/taxlibrary/
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