What is the best way to donate some nice clothing and working electronics. I have some nice clothing that i want to donate and claim on my tax return next year. Does anyone know of any organization that issues a voucher for donations they receive and also picks the good up in from ones house.
I know of salvation army, but i want some others that are relatively better for tax return purposes.
Your polite advise will be appreciated.
Thanks
JI
2007-12-03 03:57:11 · 5 answers · asked by progress 2 in Business & Finance ➔ Taxes ➔ United States
Purple heart comes to our house at different times during the year. Call them and see when they will be in your neighborhood
2007-12-03 04:28:00 · answer #1 · answered by waggy_33 6 · 0⤊ 0⤋
You are able to deduct charity deductions only if you will use a Schedule A for itemized deductions. Your itemized deductions must exceed your standard deduction. You did not indicate your status (single or married) in your question. Generally, you will need a receipt from a recognized organization (blessed by the IRS) when donating clothing at fair market value.
2007-12-03 04:58:05 · answer #2 · answered by Gary 5 · 0⤊ 0⤋
Visit the IRS and get the publication on charity donations (pub 526). The receipt from the charity probably won't be detailed at all...so *you* will need to keep an itemized list of what you donated, to whom you donated and how you arrived at the fair market value. (If the total is large, you may need even an appraisal.) Photos would be helpful.
This also assumes that you are able to itemize.
2007-12-03 04:13:15 · answer #3 · answered by Anonymous · 0⤊ 0⤋
The amount of your deduction is the fair market value of the items you donate. Unless an organization is artificially inflating the amount, that's going to be the same pretty much wherever you donate it - and if they are, your deductions could be disallowed anyway.
The organization you donate to has to be a 501(c)3 organization for you to take any deduction for it.
2007-12-03 05:22:11 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
Your property is worth what your property is worth. It is not worth less if you give it to the Salvation Army than it would if you gave it to some other charity. Donate it to where you think it will do the most good and let the tax deduction take care of itself.
2007-12-03 04:02:24 · answer #5 · answered by Anonymous · 3⤊ 0⤋