I donate goods to Goodwill, but at the same time, I buy goods such as books. Is the reciept I get for purchasing goods considered evidence as an additional donation (e.g. when I file my taxes)?
2006-09-25 08:28:59 · 7 answers · asked by Shades 2 in Business & Finance ➔ Taxes ➔ United States
No it's not. That is why your Goodwill purchase receipt willususally say "Not a donation. This receipt is for a merchandise purchase." (Church thrift stores are the same scenario. But this actually is a very good question. As a tax professional I OFTEN see people who go to "charity auctions" and are under the impression that they will get a charitable donation for the money used to "bid" for the items. The amount that you can claim as a charitable deduction would be the amount OVER the value of what you have purchased. In your case I'm sure that you are not paying over the value of the item since these are used items, but a real-life example of the auction scenario is this: Mrs. Rich goes to a "charity auction" for Smallville Youth Athletics and bids $200 for a signed pair of shoes from Mr. Big Name athlete. In a sports collectibles store you will pay $175 for Mr. Big Name's autographed shoes. Only $25 of this check to Smallville Youth Athletics is a donation.
2006-09-25 08:53:05 · answer #1 · answered by FlCpa 3 · 1⤊ 0⤋
Buying goods at a thrift store does not constitute a donation. Giving goods is a donation and that can be written off on your taxes if you have a receipt.
2006-09-25 08:31:58 · answer #2 · answered by Medical and Business Information 5 · 2⤊ 0⤋
The church i pass to is amazingly outward concentrated. 2 years in the past we outfitted a community middle on to the church that grants paintings classes, after college tutoring, ESL instructions, GED classes, well being, dental and inventive and prescient care, images, etc. We also personal and perform 2 food pantries, and performance challenge communities in 4 diverse international locations, and all it really is only a drop interior the bucket to each and every thing the church does. for sure tithe money is going to pay the pastors salaries and different upkeep on the church. yet our church, a church of 7500 ppl in a huge progression, is totally debt loose. no longer many church homes can say that. So the money I supply doesn't pass to a loan or paying interest. And even as there are a form of rec centers interior the city that are ultimate b/c of the commercial gadget, the community middle at my church nonetheless operates and grows. an extra beneficial ingredient. My husband and that i have been out of work for 6 months. We lived off of no longer something yet human beings helping us out, and we've tithed off of each and every present we've been given. So even as we've not had a interest, our tithing has no longer dropped. especially impressive to me, and takes away any doubt i'd ever have.
2016-10-16 02:14:58 · answer #3 · answered by ? 4 · 0⤊ 0⤋
no luck on what you buy from theses stores, only the receipt that you get when you donation goods or if you give them a cash gift, the receipts are different for donations and purchases.............
2006-09-25 11:30:17 · answer #4 · answered by churchonthewayseniors 6 · 0⤊ 0⤋
Charity should be just that.....charity....period. To assume to give a gift of charity, one should not think of a gain, as in a tax write off.
Once a donation or a gift leaves your hand, let it go. If your that greedy, don't bother donating.
2006-09-25 08:36:34 · answer #5 · answered by Anonymous · 0⤊ 2⤋
NO. Only when you donate items (goods) can that be considered tax-deductible.
2006-09-25 08:37:30 · answer #6 · answered by Lala_79 2 · 0⤊ 0⤋
No.
2006-09-25 08:32:01 · answer #7 · answered by spot 5 · 0⤊ 0⤋