I donated 4 full boxes of old clothes to Goodwill last year and all they did was sign and stamp this peice of paper stating I made a donation but nothing was itemized. The clothes, if itemized, would have easily totaled over $1000. I was told that I could deduct up to $500 without needing itemized proof. Is this true?
You are supposed to itemize your donations, not Goodwill. Donated clothing is itemized at fair market value, not the original purchase price you paid. If you can, come up with a reasonable guesstimate of how many items of clothing you donated, what kind they are, and how much they’re worth. You can deduct up to $500 without showing proof to your tax preparer, but you should have it in case you get audited. Any non-monetary contribution over $1,000 will require that you complete a worksheet, Form 8283.
This is all under the asumption that you can, in fact, itemize your deductions instead of taking the standard deduction.
A fire at a Goodwill Superstore in the 1100 block of Reisterstown Road in Owings Mills created a major setback for the already struggling company.
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My girlfriend flirts with other guys in stores,bars,even the goodwill donations collector. But swears up & down she doesn’t flirt. I know her Pretty dame good & can see it in her eyes & Therese,It bothers me what can i do. Dump her?
Tell her that you know that she knows she’s doing it. And if it doesn’t stop, you will break up with her.
Tax season isn’t for a few months, but there is still time before the New Year to get some last-minute tax deductions.
Employees at Goodwill donation centers have been busier than ever.
Tracey Hargrove makes it an annual tradition to clean house at Christmas time and drop off unwanted items.”Mainly we’re making room for new toys that maybe Santa is bringing to our house,” said Hargrove.The holidays do spur generosity, but the approaching tax season is another reason for the boost.
“This is our very busiest time of year when everyone is rushing to get their donations into Goodwill because they want to get their end of year tax receipts,” said Suzanne Kay-Pittman with Goodwill.
When donating, there are a few things Goodwill said you should keep in mind. “What we would like folks to do is itemize their donations, so that when they bring it to us, they’re not going through each piece and counting them,” Kay-Pittman told News 2.
The donations not only benefit the donor, but also Goodwill stores and other shoppers. All donations must be made by December 31 to get a write-off to count toward your 2009 taxes.
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When I donate items to Goodwill, the sheet is blank and you are supposed to assess the value based on what it would sell for at a Thrift Shop. So I go down the list at 50 cents or one dollar at very low amounts usually, unless it is a very good item. Basically I believe I am taking about 1% – 10% of the original value based on its age and condition. If you donate a car you can deduct $500 unless the charity gets more for it and reports back to you a greater amount in writing.
I accidentally donated some items to Goodwill and I asked a team leader to see if they had it and they brought out the donation worker and said look in the "Layers" What does layers or layering mean at goodwill? Also do they actually have a warehouse that they put unwanted donations or do they just throw the stuff out?
Since they rack stuff according to the type of garment, it makes sense that they would pile the incoming garments according to type also. What happens to the garments between the initial sorting and the eventual racking I’ve no idea.
Most people know that we accept donations to our Minnesota Goodwill stores and sell the donations in the stores. But what do we do with the funds raised through our stores? Do people also donate money to Goodwill/Easter Seals? Yes, people donate to our mission and you can as well by visiting our Web site. All funds raised by this nonprofit organization support our mission to assist people with barriers in achieving their goals for education, employment and independence. Barriers are circumstances or situations that prevent people from achieving their goals, including physical, learning and mental disabilities, convictions, language and chronic unemployment. Your support as a Goodwill shopper or donor, car donor or financial supporter makes it possible to provide a full range of services that support healthy families and communities in Minnesota.
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Can someone tell me the step by step process of donating clothing to goodwill store or similar style places and bing able to get the tax deduction. I have to use the long form for tazes anyway so might as well get the deduction if I can. Oh, This is mainly for used clothing and household goods. Good clean stuff thats left over from multi family house cleaning and yardsale.
Thanks!
I’ve never donated anything to get the deduction before, my prvious deductions have been drop offs. So I dont know what to expect.Also, Does it matter for taxes when the donation takes place? Such as there is a goodwill store close by in the next state.
Thanks again for any helpful answers!
1. Each time you donate, make sure to obtain a receipt
2. Keep a record along with your receipt with a list of items donated
3. At the end of the year, make an estimate of the total value you are trying to claim. IRS allow Fair Market Value. Use this sheet as a guideline.
http://www.cincinnatigoodwill.org/donating/FMV2005.pdf
4. If the total is less than $500, then deduct the value in Schedule A Line 16
5. If the total value is greater than $500, you have to use Form 8283
Best wishes.
Goodwill Industries of the Southern Piedmont takes you through the four-step process from donation to helping someone gain employment.
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My husband and I moved from California to WA state last year. He is in Medical school doing rotations and trying to get residency in WA. I have accepted a new job here as well. Can we deduct our moving expenses? We also have goodwill donations. Is there a minimum that you need to donate in order to deduct? Thanks!
You might want to ask this in a US-related category. This is for Canadian taxes.