elfling Posted March 7, 2008 Report Share Posted March 7, 2008 We've picked up a number of new clients this year. I ask them to bring the return from last year if they can to review. It helps stimulate the best line of questions. Anyway, I see so many different things typed in column (h) of Form 8283 as the Method used to determine FMV that it has me wondering what the learned folks here do. Elfling Quote Link to comment Share on other sites More sharing options...
MargaretMort Posted March 7, 2008 Report Share Posted March 7, 2008 In my clients' case, I put cost because that is true. In some cases it is FMV. Just depends on circumstances. Quote Link to comment Share on other sites More sharing options...
michaelmars Posted March 7, 2008 Report Share Posted March 7, 2008 VALUE AS WRITTEN ON CEILING, AFTER ALL THATS WHERE ALL CLIENTS FIND THE AMOUNTS TO GIVE ME Quote Link to comment Share on other sites More sharing options...
Mike D Posted March 7, 2008 Report Share Posted March 7, 2008 I happen to have a colleague who's wife is a tag sale agent. I use her expertise from time to time and have always followed her valuations. Therefore I use tag sale agent. Good luck Mike D Quote Link to comment Share on other sites More sharing options...
mgmea Posted March 7, 2008 Report Share Posted March 7, 2008 I'm instructing my clients this year to determine the "thrift shop value" on all their Goodwill receipts before I see them. It cuts down on having to wipe the cobwebs off the ceiling everyday. On a related charitable contribution note, does a carbonless copy of a check and a bank statement that shows the date, check number, and check amount meet the required proof needed for the deduction. I for one have never seen a bank statement that lists the payee of a check on it, and some banks around here charge more for a copy of the cancelled check than the deduction is worth. Would your answer change if a life estate was involved in the contribution?.......lol Quote Link to comment Share on other sites More sharing options...
RitaB Posted March 7, 2008 Report Share Posted March 7, 2008 VALUE AS WRITTEN ON CEILING, AFTER ALL THATS WHERE ALL CLIENTS FIND THE AMOUNTS TO GIVE ME Yeh, me too! And, I have had about six new people this year to hand me a blank receipt from a non-profit. When I asked them the value of the stuff donated, they all said, "Just use the standard amount." When I tell them there is no "standard amount," you have to tell me a number, they look at me like I have two heads or something. (Only thing I can figure out is that the previous preparer let 'em put $500 so they wouldn't need to file 8283?) Then, of course, they want ME to decide what their sleeper sofa was worth... Quote Link to comment Share on other sites More sharing options...
Janitor Bob Posted March 7, 2008 Report Share Posted March 7, 2008 Yeh, me too! And, I have had about six new people this year to hand me a blank receipt from a non-profit. When I asked them the value of the stuff donated, they all said, "Just use the standard amount." When I tell them there is no "standard amount," you have to tell me a number, they look at me like I have two heads or something. (Only thing I can figure out is that the previous preparer let 'em put $500 so they wouldn't need to file 8283?) Then, of course, they want ME to decide what their sleeper sofa was worth... ...A local goodwill store here is telling people that "your tax person will tell you what it is worth".....JEESH!! Quote Link to comment Share on other sites More sharing options...
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