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| Tax Deduction Site
There is a site or software that informs you what can actually be utilized as "cost" for various donated items, such as books or clothes etc to the salvation army..Anyone have that info? Thanks
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| IRS Offers Tips for Year-End Donations Rules for Clothing and Household Items To be deductible, clothing and household items donated to charity must be in good used condition or better. A clothing or household item for which a taxpayer claims a deduction of over $500 does not have to be in good used condition or better if the taxpayer includes a qualified appraisal of the item with the return. Household items include furniture, furnishings, electronics, appliances, and linens. I don't know of any software that has pricing. I use garage sale prices and always take a picture of my donations in case I am audited. Always get a receipt for your donations.
__________________ Proud to say I haven't shopped at a Wal-Mart since Sept 2003 |
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The organizations never put a cost on the donated items, it's up the the person who donates. My accountant told me, it's up to me. I always undervalue. I didn't even claim for years and then decided that I should get the added benefit of a small tax savings.
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