(California)
If i'm donating to charity like the Salvation Army...how much % of what I'm donating is tax deductable in California?
Any other benefits (tax-wise) for donating to charity?
2007-03-03 15:47:25 · 7 answers · asked by bpark73 1 in Business & Finance ➔ Taxes ➔ United States
...to be clear...I'm donating a lot of great quality clothes that I no longer wear to the Salvation Army. I was told this can be deducted. Is this true and if so how much % of it is deductable in California?
2007-03-03 16:18:32 · update #1
If you are donating cash, then 100% of it is deductible, up to the limit allowed for your income. If you are donating items other than cash, many rules apply depending on the item. Often you can take the fair market value as a deduction. For clothing and household items, no deduction is allowed unless they are in good used or better condition. If you donate a car and the organization sells it, your deduction is limited to what the organization sells it for. You might want to read IRS Publication 525, charitable contributions, and 561. determining the value of donated property.
You can only take a charitable donation as a deduction if you itemize.
2007-03-03 15:54:48 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
You can't deduct charitable deductions until you're able to itemize (schedual a). As long as the total of your itemized deductions are lower than your standard (for being married, single, etc), you can't deduct them.
If you itemize, then the Salvation Army is in the 100% category (all of it is deductible), as long as it's a cash donation.
2007-03-03 15:56:47 · answer #2 · answered by Anonymous · 0⤊ 1⤋
you're able to be able to now not deduct charitable deductions till you're arranged to itemize (schedual a). as long by using actuality the excellent of your itemized deductions are decrease than your easy (for being married, single, etc), you're able to be able to now not deduct them. in case you itemize, then the Salvation military is indoors the one hundred% type (all of it somewhat is deductible), as long as this could nicely be a money donation.
2016-10-17 05:29:24 · answer #3 · answered by ? 4 · 0⤊ 0⤋
You can help a needy child in kenya by donating however little via paypal at needychildkenya@gmail.com.You can visit http://needychildkenya.wordpress.com/2013/12/20/share-the-cheer-with-a-needy-child/ for more
2013-12-20 06:46:11 · answer #4 · answered by Anonymous · 0⤊ 0⤋
donate your car
2007-03-03 15:50:48 · answer #5 · answered by Elle R 1 · 0⤊ 2⤋
talk with your CPA.
2007-03-03 15:55:51 · answer #6 · answered by KitKat 7 · 0⤊ 1⤋