OT - I HATE form 8283

[jasdlm]

Almost as much as I hate people who make 30 trips to Goodwill during the calendar year . At least I've got most people trained to give me an itemized list of the items they dropped off. Takes forever to value and enter! (I could take the taxpayers' values, but sometimes those are outrageous.)

[Terry D EA]

Someone here can correct me if I'm wrong but I thought it illegal for a tax preparer to enter a value for any donated item. I will agree that sometimes the client's valuation is off and I do warn them about this and let them know that acceptable FMV price is thrift store price. The Salvation Army gives a good guide and a range of the condition of the donated items. How can you tell the condition of the item when you weren't present when it was donated? I insist that all my clients submit an itemzied list with values assigned. If I know they are outrageous I will tell them so and make them adjust it. Example one guy wanted to claim $600.00 each for donating three of four Armani suits. Really? thrift store range from $15.00 to $30.00.

[jasdlm]

I help some of my older clients who don't use the internet. They sign off on the ultimate values/conditions, but I do look them up for them. I probably shouldn't, and it takes an incredible amount of time, but they are grateful. These clients tend to under value the items because they are scared of the Feds.

I do send clients to the Salvation Army and other websites that help value, but sometimes I have to help them along. The ultimate value assignment is theirs. If clients give me a crazy high value, though, I do look up value ranges and review my suggestions with them.

I have a small practice, and I know the majority of my clients very well and am in contact with them throughout the year and during this time, so it's a bit of a different situation.

I still hate form 8283. Hopefully I'm not breaking any law.

[JohnH]

I agree totally. I think there should be a limit of some sort - maybe non-cash contributions can't exceed xx% of cash contributions. Some of these values are unbelievable, and I just don't believe someone who gives $25 to their church when they show up on Christmas and $10 to the United Way in the whole year is generous enough to give $2,000 worth of good clothing, furniture, and toys to Goodwill. They donate their junk and then want to inflate its value.

[joanmcq]

Give your non internet clients a copy of the Salvation Army guide. Heck of a lot easier to print out than look the stuff up yourself. And you really shouldn't be doing it anyways.

I do have some clients that donate regularly; they are a bit of fashionistas and have the income to allow it. Others have moved; moving was always a way for me to keep from accumulating! But yeah, I hate the form too. Just did 17 separate donations.

[Catherine]

Hardest are the older folks who made seventeen gazillion trips to Goodwill when they were selling their homes to move to apartments or assisted living. Some trips for one or two little items -- but probably all they could handle that day.

I help with valuations, too -- but usually in figuring out *where* on that SA list something is/qualifies for. The older folks get all bent out of shape agonizing over whether an electric fondue set is a kitchen pot/pan or a small electric appliance, and dither and worry. So it's not the assigning valuation so much as helping them decide what on this SA list encompasses what they wrote down on their list. Then we look at the price range and I let them decide.

It really takes lots of time, though -- yet these folks (1) only do it once each, praise be, and (2) are *so* grateful for the help.