2007-01-29 09:38:07 · 4 answers · asked by pettygoesracin 2 in Business & Finance ➔ Taxes ➔ United States
New charitable donation rules require receipts for everything and durable goods must have a valuation receipt signed by the charity.
In short now, whatever the receipt says !
2007-01-29 09:43:57 · answer #1 · answered by kate 7 · 0⤊ 0⤋
Goodwill usually lets you make out your own receipt for value of items donated. Be careful not to over estimate in case you are ever audited. You must be fair about the amount you claim. If items have been worn but in good shape it is usually fair to claim between one and three dollars. For new never worn items and you have the receipts, claim full value.
2007-01-29 09:43:42 · answer #2 · answered by BellaDonna 3 · 0⤊ 0⤋
The fair market value of the clothing at the time of the donation. Unless you're talking about an expensive designer gown, it's not going to be a lot.
2007-01-29 09:44:29 · answer #3 · answered by Bostonian In MO 7 · 1⤊ 0⤋
The maximum to claim on donated items such as clothing without a receipt is $500.00. You can also claim a maximum of $200.00 in cash donations without a receipt. This is information that I received from my CPA a couple of years ago.
2007-01-29 09:49:04 · answer #4 · answered by acmccn215 1 · 0⤊ 1⤋