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Federal input screens

Screen 1098C - Contributions of Motor Vehicles, Boats, and Airplanes (1065)

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General Information

Contribution type
Indicate the type of property contributed. If you leave this field blank, the contribution type defaults to 50 percent.
Type of property
Indicate the type of property donated. UltraTax CS uses the code entered to mark the checkbox on Form 8283, Page 2, Section B, Part I. If you leave this field blank, the type of property defaults to Vehicles.
note
This field isn't used if the contribution is reported on Form 8283, Section A, Part I.

Donated Property Information

Property description: Year, make, model
Use these fields to enter the year, make, and model of the donated property. The application uses this information as the property description on Form 8283.
Date acquired by donor
Enter the date the donor acquired the property. The application transfers this information to Form 8283. If the contribution is reported on Form 8283, Page 1, Section A, Part I, the application transfers this information to column (e) if the fair market value of the contribution is greater than $500.
To complete column (e) 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
 window. To open this window, select
Setup
,
1065 Partnership
, and select
Other Return Options
.
How acquired by donor
Identify the method by which the donor acquired the property. If you leave this field blank, the application defaults to Purchase as the method of acquisition. If the contribution is reported on Form 8283, Page 1, Section A, Part I, this information transfers to column (f) if the fair market value of the contribution is greater than $500.
To complete column (f) 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
 window. To open this window, select
Setup
,
1065 Partnership
, and select
Other Return Options
.
Donor's cost or adjusted basis
Enter the cost or basis of the donated property. You can enter
0
 (zero) in this field. This information transfers to Form 8283. If the contribution is reported on Form 8283, Page 1, Section A, Part I, this information transfers to column (g) if the fair market value of the contribution is greater than $500.
To complete column (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
 window. To open this window, select
Setup
,
1065 Partnership
, and select
Other Return Options
.
Fair market value on date of contribution
Enter the fair market value of the property on the date the property was contributed. The application uses the amount entered in this field to calculate the deduction amount for Schedule K.
Method used to determine fair market value
Indicate the method used to determine the fair market value of the property on the date of donation. If you leave this field blank, the application defaults to Other as the method used to determine the fair market value.
note
This field isn't used if the contribution is reported on Form 8283, Page 2, Section B, Part I.
Bargain sale amount received
Enter the amount received for a bargain sale. When Appraised FMV is selected in
Deduction code
, the application subtracts this amount from the amount entered in
Fair market value on date of contribution
 for the contribution amount on Schedule K.
note
This field isn't used if the contribution is reported on Form 8283, Page 1, Section A, Part I.
Deduction code
The code entered in this field determines the fields in which the application places the contribution amount on Form 8283, Page 2, Section B, Part I. If you leave this field blank, the application defaults to Appraised.
note
This field isn't used if the contribution is reported on Form 8283, Page 1, Section A, Part I.

Donee Certifications

Gross proceeds from sale
Enter the total gross proceeds received from the sale of the vehicle, boat, or airplane. The application uses this information to determine the overall deduction.
Vehicle will not be transferred for proceeds before completion of material improvements
When this checkbox is marked, the application calculates a deduction equal to the vehicle's fair market value entered in
Fair market value on date of contribution
.
Vehicle to be transferred to needy individual in furtherance of charitable purpose
When this checkbox is marked, the application calculates a deduction equal to the vehicle's fair market value entered in
Fair market value on date of contribution
.
Value of goods and services provided
Enter the value of any goods and services provided in exchange for the vehicle donation. The application reduces the charitable deduction by the amount entered in this field (unless you mark
Goods and services consisted solely of intangible religious benefits
).
Donor may not claim deduction of more than $500
When this checkbox is marked, the application calculates a deduction equal to the smaller of $500 or the vehicle's fair market value entered in
Fair market value on date of contribution
.

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