SFFORMS.COM – SF 118C Form – Related Personal Property – Schedule C – Supplement to Report of Excess Real Property – Supplemental Schedule C to the Report of Excess Real Property (SF 118C) is a form used by taxpayers who own real property that exceeds their adjusted gross income (AGI). The form lists the value of the real property, any related personal property, and any expenditures made for the property. Taxpayers must file this form if their AGI is over $250,000 ($500,000 if filing a jointly filed return).
Download SF 118C Form – Related Personal Property – Schedule C – Supplement to Report of Excess Real Property
| Form Number | SF 118C Form |
| Form Title | Related Personal Property – Schedule C – Supplement to Report of Excess Real Property |
| File Size | 984 KB |
| Date | 03/2018 |
What is an SF 118C Form?
The SF 118C form is a supplementary document to the Report of Excess Real Property, which is used by federal agencies to dispose of property they no longer need. Specifically, the SF 118C relates to personal property that exceeds the agency’s needs and must be turned over to other organizations or sold. This form lists all of the items on Schedule C of the Report of Excess Real Property.
The purpose of the SF 118C form is to provide detailed information about the excess personal property so that potential recipients or buyers can evaluate whether they want it and what it’s worth. The form includes descriptions, quantities, condition codes, acquisition costs, fair market values, and other relevant information for each item listed on Schedule C.
In summary, if you’re involved in disposing of excess personal property for a federal agency or interested in acquiring surplus government assets through auctions or sales programs like GSA Auctions or GovPlanet.com then understanding how to complete an SF 118C Form is essential. It provides important information that helps ensure transparency and fairness throughout the disposal process while also helping recipients make informed decisions about what items they want and how much they should pay for them.
What is the Purpose of the SF 118C Form?
The SF 118C Form is a document that lists all the related personal property that accompanies excess real property. This form is a supplement to the Report of Excess Real Property and helps determine what equipment or items will be left behind when the property is transferred to another agency or disposed of. The purpose of this form is to ensure that all related personal property, such as furniture, fixtures, and equipment, are documented properly.
The SF 118C Form also helps in determining what items can be sold or donated when disposing of excess real property. It serves as proof of ownership and provides information on the condition and value of each item listed. Moreover, it aids in identifying any hazardous materials present on the premises which require special handling during disposal.
In summary, filling out an SF 118C Form is essential when dealing with excess real property as it ensures that all related personal properties and hazardous materials are accounted for appropriately. It allows for better decision-making regarding disposal methods while providing transparency between agencies involved in transferring properties.
Where Can I Find an SF 118C Form?
The SF 118C form is an essential document for those who are looking to dispose of their excess personal property. This form helps the government to keep track of all the personal property that it owns and disposes of. If you want to dispose of your excess personal property, then you need to fill out this form.
You can find the SF 118C form on the official website of the General Services Administration (GSA). The GSA is responsible for managing and disposing of excess federal property. They have a dedicated section on their website where they provide all the necessary forms related to disposing of excess property.
Apart from the GSA website, you can also find the SF 118C form at any local government office that deals with property management. These offices may include state surplus agencies, city or county surplus departments, or any other government agency responsible for disposing of excess personal property in your area.
SF 118C Form – Related Personal Property – Schedule C – Supplement to Report of Excess Real Property
The SF 118C form is a document that federal agencies use to report excess real property that is no longer needed or used. This form includes the Schedule C section, which lists any related personal property that accompanies the excess real property being reported. The Supplement to Report of Excess Real Property helps government agencies determine how to dispose of the excess real and related personal property.
The related personal property listed in Schedule C can include items such as furniture, equipment, vehicles, and other assets associated with the excess real property. The information provided on this form can help determine if these items should be sold or transferred to another agency within the federal government.
Completing an accurate SF 118C form with a detailed Schedule C section is essential for effective management of federal assets. By ensuring all relevant information about related personal property is included, agencies can make informed decisions about disposing of their excess assets while also saving taxpayer money by reducing waste and improving asset utilization across various government departments.
SF 118C Form Example
