IRS Form 8282

There are entities and organizations (primarily foundations) registered in the US that exist and operate thanks to donations. Despite the fact that they are granted the money at no charge, they need to report their income disposition to the IRS. Filling out and filing Form 8282 (also known as the Donee Information Return form) is the way to do that.

In this brief overview, we will tell you more specifically how to complete the form properly, what documents to attach in support of your legal records, and where to file the completed form. It is also important to get acquainted with the currently applied norms and regulations before you proceed with the filing process.

When Is It Necessary to File the Form?

As it appears from the form’s official name, the recipient organization needs to file it to report the manipulations they have performed over the charitable deduction assets exchange within the last three years. The donee may have sold, exchanged, or disposed of the granted dwelling units or other property. Of course, the donor and the IRS would want to know the details about the transactions and the fate of the donated unit(s).

The property that falls under the above-mentioned category is technically any granted asset with the claimed value of over 5 000 US dollars per one in-kind property item. But of course, like with any other legal rule, there are certain exemptions from the form. You need to learn about them to find out if you are eligible to file.

There are two cases when the recipient organization is relieved from filling out and filing the donee report. They are as follows:

1. The donated property item is evaluated to be under 500 US dollars in the open market cost. Sometimes, particular confusions occur when evaluating a set of donated items and assets. That is why we recommend you hire a professional that will help you perform the procedure by rules and provide you with a written document confirming the assessment.
2. The second exemption from filing the form concerns the property items that are disposed of by the organization or entity in the framework of fulfilling their primary purpose. In the most basic sense, such items and assets would be considered tax-free. There is a list of organizations that are exempt from taxation due to the activities they perform. For instance, if an education-related charity distributes supplies for schools, those supplies would be exempt from taxes and further reporting, and so on.

Please note that by selling or exchanging the granted property, the original donee becomes the donor for the successor and is obliged to fill out and file Form 8283 on non-cash deductible contributions. See our article on the form to get acquainted with the filing requirements.

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How to Fill out Form 8282

You should get the relevant form template before you proceed any further. We suggest you use our latest form-building software developments to create and customize the legal form you need. With our PDF editor, you will also be able to fill out the form online.

Please note that you have to meet the deadline for submitting the form: 125 days within the disposition of the granted property. If you fail to do so for whatever reason, you will be subject to a penalty.

Below, you will find a comprehensive guide on filling out the form. We will lead you through the process step by step so that you have minimum difficulties filling in and finding the required information.

Read the Filing Instructions

The form comes with two pages of detailed filing instructions, guidelines, and legal terms’ explanations. We highly recommend you read those before you start filling out the required information. You will find the instructions at the end of the form template (pages 3 and 4).

Identify the Recipient Organization

First of all, you need to the business name of the charitable recipient, then fill in its EIN and physical address, including city, state, ZIP code (or PO, if applicable), street, building, and office number. You are allowed to either print or type the information here.

Provide Details on the Donor

Pay special attention to this section, as there are two types of donors designated here. Fill out the first section if the original donor was any organization other than charitable (or non-commercial). Indicate the company’s business name, physical address, and ID.

If your organization’s donor was another charitable entity, you shall skip section 1 and proceed to section 2. These donors are actually called “successor donees” as they receive income money and form their budget based on other donations and free-of-charge contributions from third parties.

Indicate Previous Donees (if applicable)

It might occur that the recipient organization undergoes reforms, restructuring, or stops existing at all. For instance, the leadership or ownership of the recipient organization was changed (and thus its name or physical address). But at the same time, the essence of the company’s business and activity stays the same, and it continues receiving donations from the same donors; then, the new management needs to indicate the changes in the form.

Considering the information outlined above, fill in the relevant and updated info on the original and preceding donee (if applicable).

Supply the Granted Property Info

This part of the application form consists of three sections where you are supposed to fill in the information on the property type, its purpose of use, and answer some property-related questions. Insert the property type your charitable organization has disposed of in the first section. Then, proceed to answer some “Yes” or “No” questions about the disposition process. Finally, provide the required details on the purpose of using the granted assets in section three (as shown below).

Insert Additional Info and Certification Details

Here, you must enter the date when the granted property was first received (if there are an original and succeeding donee, insert the dates both of them have received the subject contributions). Below the designated dates, enter the amount (in US dollars) received upon the transaction (selling, exchanging, disposing of) involving the granted unit(s).

Once you have filled out the previous part, you need to certify that the subject property unit(s) meet all the necessary legal requirements. The responsible officer who fills out the form should put their signature, title, and the current calendar date.

Sign and Date the Form

Finally, as the sign of confirmation that all submitted information is accurate and true, the officer puts a signature, title, current date, and their printed name once again, thus, authorizing the application form.