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I am writing to see if someone can help our Upstate Model Railroad club (a registered 501c(3) organization) with the completion of the IRS Noncash Charitable Contributions ( Form #8283). We recently received a wonderful G Scale significant donation of ~ $20,000.

One of our esteemed and most knowledgeable members carefully inventoried, researched, valued and documented for the donor the items and provided a signed form, but the donor’s tax advisor questioned our signing the form since our club received the donation, as it could potentially be a “conflict of interest” or a “perceived conflict of interest”.

I am hoping someone might be able to help us or point us in the right direction. Earlier I sought help from the Train Collectors Association, but have not yet received a response.

Thank you in advance.

On behalf of the Upstate Model Railroad Club (www.upstatemodelrailroaders.com)

Michael West
Member TCA #20-75097
860-798-0491
7 Kimberly Lane
Queensbury, NY 12804

cc: Ken Wheeler (President UMRR)
 

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Michael,
I know nothing about US laws and regulations, but I would suggest that your organization pay for some professional help to get it right.
Good luck,
David Leech, Delta, Canada
 

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I can see why the tax advisor queried the signature. Surely the donor should get the collection valued for his tax purposes, independent of the recipient's assistance.

You have an inventory which is a major step. Normally an auctioneer or dealer would be paid for his services - think of Antiques Roadshow. I would contact Maurer Auctions, who sell toys and trains. They should be able to help. Maurer Toy Train Auctions - Lionel, Marx, American Flyer, Antique Toys
 

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Mike,

Be careful there. My wife is a Tax Pro (IRS Enrolled Agent), and her comment base on the info in the thread was "don't go there, have a professional do the evaluation". The logic is very much the perception of conflict of interest. That perception could raise a flag at IRS and find the club in a deep dive audit.

Best advice I will give is to follow the rule "Perception is reality".

Bob C.
 
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