Don’t forget to file form 8282 if donated property is later sold!

Christian Shaeffer Non Profit Exempt Organizations Leave a Comment

Many non profit exempt organizations receive donated items of property from generous donors. It may be a piano, car, artwork, or other items valued at more than $500. if these items are later disposed of for consideration (sold for money), IRS form 8282 may be required. This form is used by the IRS to better track donated items in which …