We Prepare Tax Returns!

We prepare most type of tax returns:


S Corporation.

C Corporation.




Client Video Testimonials

Click here to watch some of our clients in their video testimonials!

Client Testimonials

My husband and I had to deal with canceled debt from a Deed in Lieu of Foreclosure on a second home with our 2012 taxes. We never had to deal with this type of tax experience and needless to say, we were fearful. Owing taxes on possible additional income was stressful. We searched for CPA’s as well as info about DILs and how Insolvency worked. When we came across Gary’s website, we were impressed. We found his website 8 months prior to tax season. We kept it as a “Favorite” as we knew we would need to contact him for assistance. When it was time to get a CPA, we called Gary. We felt relieved that we actually had someone that not only understood our concerns but was an expert in this area. He walked us through the process and all the time telling us not to worry. When our taxes were completed, you cannot imagine the relief we had when we actually were able to get a refund.

Gary is a dedicated professional and attentive to his clients. We love the virtual office as it is convenient during tax time and he’s fees were fair and affordable when you consider the depth of work accomplished on our taxes!

We’ve already started recommending Gary to others. We are so blessed and grateful for all that Gary did to assist with our taxes.


Patty and Tim, Fredericksburg, VA

Free Consult

Even though Gary enjoys helping colleagues, we no longer provide free consults to other tax preparers. He's happy to consult on an hourly billing basis if our schedule allows.

Pay Your CPA

Enter $ Below
Other Amount:
Your Email Address:

Form 1065 CPA discusses IRS Form 8283 for Partnerships | 2012

CPA Wilmington NC discusses Form 8283 as an attachment to Form 1065.

Gary Bode CPA: I believe in documenting every aspect of Form 8283. For a free initial phone consult, please call 399-2705.

Form 1065 CPAs use Form 8283, Non-cash Charitable Contributions, when the Partnerships donates non-cash charitable items. Examples of such items include:

  • Conservation Easements; abuse of these gifts by developers, led to a $500 filing fee if the declared easement value is greater than $10,000.
  • Works of Art; here’s a link to our post on IRS valuation of charitable art donations.
  • The present value of the remainder interest ,in a charitable remainder trust, funded with non-cash property. Here’s our post on charitable remainder trusts.
  • Publicly traded securities.
  • Qualified vehicles.
  • LLC interests.

Unique Features of Form 8283

Form 8283 calculates the tax-deductible value for charitable items.  This can be subjective. And the IRS expresses ongoing skepticism over charitable contributions. So, the Partnership must essentially prove every aspect of the donation.

  • Section B, Part II of Form 8283 requires a Partner signature.
  • Section B Part III of Form 8283 requires an appraiser declaration.
  • Section B Part IV of Form 8283 requires a direct acknowledgement of receipt by the donee.
  • A copy of Form 8283 is given to every Partner whose Schedule K-1, from Form 1065, reflects the donation.

Form 1065 CPA Example Documentation for Form 8283

A good CPA looks at Form 8283 from the IRS perspective, to anticipate possible tax audit issues. For a donated vehicle, I would submit:

  • A Summary page of supplemental information attached, including my calculation of donated value.
  • Proof of the original cost.
  • The depreciation schedule for the vehicle.
  • An Internet print out of the blue book value.
  • A statement of receipt from the charitable donee.

Is this Form 8283 documentation overkill? Maybe, but it demonstrates a willingness for transparency and shows professional courtesy to the examining IRS agent.

We’re a CPA firm with a virtual office to serve your Partnership, where ever it’s located.

Please check some of our posts to better gauge our ability and proactive philosophy. We offer a free initial phone consult, for Form 8823 and/or Form 1065, at (910) 399-2705 .

Find me on Google+

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>