Page 86 - Virtual Currencies

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The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before printing.
traded as of the date of the contribution. a. The date you file your return for the appraiser, and complete Form 8283. A qualified
For example, a security is generally con- year you make the contribution, or appraisal is not required for contributions of
sidered to be publicly traded if the security b. The due date, including extensions, qualified vehicles for which you obtain a CWA,
is (a) listed on a recognized stock ex- for filing the return. certain inventory, publicly traded securities, or
change whose quotations are published certain intellectual property. See Deductions of
daily, (b) regularly traded on a national or More Than $5,000 in Pub. 561 for more infor-
regional over-the-counter market, or (c) Deductions Over $500 but Not mation.
quoted daily in a national newspaper of Over $5,000
general circulation in the case of mutual In addition to, or in lieu of, the items descri-
fund shares. If you claim a deduction over $500 but not over bed in Deductions Over $500 but Not Over
$5,000 for a noncash charitable contribution, $5,000 earlier, your completed Form 8283 must
A letter or other written communication from the you must complete Form 8283 and have the include:
qualified organization acknowledging receipt of CWA, earlier. Your completed Form 8283 must
the contribution and containing the information include: 1. The qualified organization’s taxpayer iden-
in (1), (2), (3), and (4) will serve as a receipt. tification number, signature, the date
1. Your name and taxpayer identification signed by the qualified organization, and
If it is impractical to get a receipt (for exam- number, the date the qualified organization re-
ple, if you leave property at a charity’s unatten- 2. The name and address of the qualified or- ceived the property;
ded drop site), you may satisfy the substantia- ganization, 2. The appraiser’s name, address, taxpayer
tion requirements by maintaining reliable written identification number, appraiser declara-
records for each item of the donated property. 3. The date of the charitable contribution, tion, signature, and the date signed by the
and appraiser; and
Your reliable written records must include 4. The following information about the con-
the following information. tributed property: 3. The following additional information about
the contributed property:
1. The information in (1), (2), (3), and (4) a. A description of the property in suffi-
above. cient detail under the circumstances a. The FMV on the valuation effective
2. If you claim a deduction for clothing or a (taking into account the value of the date; and
household item, a description of the condi- property) for a person not generally b. A statement explaining whether the
tion of the clothing or item. familiar with the type of property to un- charitable contribution was made by
3. The FMV of the property at the time of the derstand that the description is of the means of a bargain sale and, if so, the
amount of any consideration received
contributed property;
contribution and how you figured the FMV. for the contribution.
b. The FMV of the property on the contri-
Deductions of at Least $250 but bution date and the method used in Note. The appraiser declaration must in-
Not More Than $500 figuring the FMV; clude the following statement: “I understand
c. In the case of real or tangible prop- that my appraisal will be used in connection
If you claim a deduction of at least $250 but not erty, its condition; with a return or claim for refund. I also under-
more than $500 for a noncash charitable contri- stand that, if there is a substantial or gross valu-
bution, you must get and keep a contemporane- d. In the case of tangible personal prop- ation misstatement of the value of the property
ous written acknowledgment of your contribu- erty, whether the donee has certified it claimed on the return or claim for refund that is
tion from the qualified organization. If you made for a use related to the purpose or based on my appraisal, I may be subject to a
more than one contribution of $250 or more, function constituting the donee’s ba- penalty under section 6695A of the Internal
you must have either a separate acknowledg- sis for exemption under Section 501 Revenue Code, as well as other applicable pen-
ment for each or one acknowledgment that of the Internal Revenue Code or, in alties. I affirm that I have not been at any time in
shows your total contributions. See CWA, ear- the case of a governmental unit, an the 3-year period ending on the date of the ap-
lier. exclusively public purpose; praisal barred from presenting evidence or testi-
e. In the case of securities, the name of mony before the Department of the Treasury or
The acknowledgment must: the issuer, the type of securities, and the Internal Revenue Service pursuant to 31
1. Be written. whether they were publicly traded as U.S.C. 330(c).”
of the date of the contribution;
2. Include: f. How you got the property, for exam- Qualified Conservation
a. A description (but not necessarily the ple, by purchase, gift, bequest, inheri- Contribution
value) of any property you contrib- tance, or exchange;
uted, g. The approximate date you got the If the contribution was a qualified conservation
contribution, your records must also include the
b. Whether the qualified organization property or, if created, produced, or FMV of the underlying property before and after
gave you any goods or services as a manufactured by or for you, the ap- the contribution and the conservation purpose
result of your contribution (other than proximate date the property was sub- furthered by the contribution.
certain token items and membership stantially completed; and
benefits), and h. The cost or other basis, and any ad- For more information, see Qualified Conser-
c. A description and good faith estimate justments to the basis, of property vation Contribution, earlier, and in Pub. 561.
of the value of any goods or services held less than 12 months and, if avail-
described in (b). If the only benefit you able, the cost or other basis of prop- Out-of-Pocket Expenses
received was an intangible religious erty held 12 months or more. This re-
benefit (such as admission to a reli- quirement, however, doesn't apply to If you give services to a qualified organization
gious ceremony) that generally isn't publicly traded securities. and have unreimbursed out-of-pocket expen-
sold in a commercial transaction out- ses, considered separately, of $250 or more
side the donative context, the ac- Deductions Over $5,000 (for example, you pay $250 for an airline ticket
knowledgment must say so and to attend a convention of a qualified organiza-
doesn't need to describe or estimate tion as a chosen representative), related to
the value of the benefit. If you claim a deduction of over $5,000 for a those services, the following two rules apply.
noncash charitable contribution, you must have
3. Be received by you on or before the earlier the CWA, earlier, obtain a qualified written ap- 1. You must have adequate records to prove
of: praisal of the donated property from a qualified the amount of the expenses.
Page 20 Publication 526 (2022)