Form 8283, col (h)

[elfling]

We've picked up a number of new clients this year. I ask them to bring the return from last year if they can to review. It helps stimulate the best line of questions.

Anyway, I see so many different things typed in column (h) of Form 8283 as the Method used to determine FMV that it has me wondering what the learned folks here do.

Elfling

[MargaretMort]

In my clients' case, I put cost because that is true. In some cases it is FMV. Just depends on circumstances.

[michaelmars]

VALUE AS WRITTEN ON CEILING, AFTER ALL THATS WHERE ALL CLIENTS FIND THE AMOUNTS TO GIVE ME

[Mike D]

I happen to have a colleague who's wife is a tag sale agent. I use her expertise from time to time and have always followed her valuations.

Therefore I use tag sale agent.

Good luck

Mike D

[mgmea]

I'm instructing my clients this year to determine the "thrift shop value" on all their Goodwill receipts before I see them. It cuts down on having to wipe the cobwebs off the ceiling everyday.

On a related charitable contribution note, does a carbonless copy of a check and a bank statement that shows the date, check number, and check amount meet the required proof needed for the deduction. I for one have never seen a bank statement that lists the payee of a check on it, and some banks around here charge more for a copy of the cancelled check than the deduction is worth. Would your answer change if a life estate was involved in the contribution?.......lol

[RitaB]

VALUE AS WRITTEN ON CEILING, AFTER ALL THATS WHERE ALL CLIENTS FIND THE AMOUNTS TO GIVE ME

Yeh, me too! And, I have had about six new people this year to hand me a blank receipt from a non-profit. When I asked them the value of the stuff donated, they all said, "Just use the standard amount." When I tell them there is no "standard amount," you have to tell me a number, they look at me like I have two heads or something. (Only thing I can figure out is that the previous preparer let 'em put $500 so they wouldn't need to file 8283?) Then, of course, they want ME to decide what their sleeper sofa was worth...

[Janitor Bob]

Yeh, me too! And, I have had about six new people this year to hand me a blank receipt from a non-profit. When I asked them the value of the stuff donated, they all said, "Just use the standard amount." When I tell them there is no "standard amount," you have to tell me a number, they look at me like I have two heads or something. (Only thing I can figure out is that the previous preparer let 'em put $500 so they wouldn't need to file 8283?) Then, of course, they want ME to decide what their sleeper sofa was worth...

...A local goodwill store here is telling people that "your tax person will tell you what it is worth".....JEESH!!