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Federal input screens

Screen 1098C - Contributions of Motor Vehicles, Boats, and Airplanes (1120)

Overview

To complete Form 8283, columns (e), (f) and (g) when the fair market value is $500 or less, mark the Print Form 8283 columns (e), (f), and (g) if not required checkbox in the Return Presentation tab in the Other Return Options dialog. To open this dialog, choose Setup and then 1120 Corporation, and select the Other Return Options button.

General Information

This field is not used if the contribution is reported on Form 8283, Section A, Part I.

Donated Property Information

Enter the date the donor acquired the property. If the contribution is reported on Form 8283, Page 1, Section A, Part I, this information is reported on column (e) if the fair market value of the contribution is greater than $500.
Identify the method by which the donor acquired the property. If the contribution is reported on Form 8283, Page 1, Section A, Part I, this information is reported on column (f) if the fair market value of the contribution is greater than $500.
Enter the cost or basis of the donated property in this field, including
0
 (zero), if applicable. If the contribution is reported on Form 8283, Page 1, Section A, Part I, this information is reported on column (g) if the fair market value of the contribution is greater than $500.
This field is not used if the contribution is reported on Form 8283, Page 2, Section B, Part I.
Enter the amount received for a bargain sale. When you select
Appraised fair market value
 in the
Deduction code
 field, this amount is subtracted from the amount entered in the
Fair market value
 field for the contribution amount on the return.
This field is not used if the contribution is reported on Form 8283, Page 1, Section A, Part I.

Donee Certifications

When this field is marked, the application calculates a deduction equal to the vehicle's fair market value entered in the
Fair market value on date of contribution
 field.
When this field is marked, the application calculates a deduction equal to the vehicle's fair market value entered in the
Fair market value on date of contribution
 field.
Enter the value of any goods and services provided in exchange for the vehicle donation. The allowable charitable deduction is reduced by the amount entered in this field, unless you enter
X
 in the
Goods and services consisted solely of intangible religious benefits
 field.
When this field is marked, the application calculates a deduction equal to the smaller of $500 or the vehicle's fair market value entered in the
Fair market value on date of contribution
 field.
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