Here at E-File Magic, in sunny Portland, Oregon. We are proactive. So proactive that the 2015 Form 1098-C is already available for use in our application! We offer two forms early every year; 1098-C and W-2G. You may be asking yourself, “what exactly is Form 1098-C?” Well, let me tell you… Form 1098-C is for contributions of Motor Vehicles, Boats, and Airplanes. Basically, if you donate an airplane to a non-profit organization, they in turn will give you a 1098-C. This form lists many things including; the year, make, and model of plane. It will also list the fair market value and if the charitable organization sold the plane, how much they sold it for.
Say, you are a charitable organization who has just received a plane as a donation and you would like to know how to create a 2015 Form 1098-C. Well, let me tell you how easy using the E-File Magic app is; First, go to www.efilemagic.com, in the Dashboard you will see Create a Filer. Click on the link and it will take you to the Filer page. Click New and enter in the Charitable Organizations’ information. Make sure you select 2015 as the filing year, and then click Save. Next, you will see a navy blue bar towards the top of the screen, click 2. Recipients and in the drop down box click on Manage. Once you are in the Manage Recipients screen, click on New and select Form 1098-C, enter in the information of the person who contributed the airplane to your charitable organization, click save. And you are almost done!!! All you need to do now is to click on 5. Release, make your payment and release! The form been created and you can get back to enjoying all things summer.
If you need assistance, you can always email us at email@example.com or give us a call at 877-836-6680.
Oh, and here are the instructions for Form 1098-C i1098c (1)