I know that donations made to Goodwill are tax deductable, are purchases made from Goodwill tax deductable?

1 ⤊

I know that donations made to Goodwill are tax deductable, are purchases made from Goodwill tax deductable?

2007-03-27 19:28:06 · 3 answers · asked by Ashley 4 in Business & Finance ➔ Taxes ➔ Other - Taxes

3 answers

No because you are getting merchandise for your money. The same is true when you buy fundraising products from charitable organizations.

2007-03-27 19:34:38 · answer #1 · answered by Rainman 5 · 1⤊ 0⤋

The only part of a charitable item that is tax deductible is the portion that is goig directlly to the non profit organiztation. EX. My lacrosse team sold butterbraids for $13. The team got $4. For anyone who bought one, only $4 is tax deductible

2007-03-28 02:38:17 · answer #2 · answered by Laxer 2 · 0⤊ 1⤋

2007-03-28 02:32:13 · answer #3 · answered by JW 4 · 0⤊ 0⤋