Tax credits for old stuff donations?

my tax lady told me that i need the receipt for the donation to claim that amount while filing the tax. can anyone tell me which places give receipt and what information do i need on the receipt to attach with the tax return.

Tax credits for old stuff donations?

Goodwill, Salvation Army, St Vincent de Paul or pretty much any other legitimate charity will give you a receipt. It needs to be itemized, so if you have lots of items to donate, take along a list and just ask them to sign that.

Donations of household goods, clothing, etc must be in at least good used condition to deduct them at all.

The organization will give you a receipt for the items donated, but usually won%26#039;t put a value on it. You need to figure out a fair market value - this would be the amount that similar items sell for in their thrift shops.

Tax credits for old stuff donations?

This is a very common question. Quite some time ago, the government didn%26#039;t require receipts for donations, but now that the laws have changed, you are required to provide one. In answer to your question, most legal charities/ donation centers (except for clothing drop off boxes) should provide you with some form of receipt. If you%26#039;re working with an accountant, the receipt should suffice and they should be able to move on from there. Typically, there is a line on your tax forms that may say something like: %26quot;Charitable Donations,%26quot; and usually with help from your receipt, the accountant can finish the work.

Tax credits for old stuff donations?

Most any %26quot;Goodwill type%26quot; drop off place will issue you a receipt. The problem is that normally they will not determine the Fair Market Value of the %26quot;stuff%26quot;. It is a bit of a problem getting that information. Some places have a list of the normal cost of used goods they sell. If the IRS were to apply the rules strictly you would need to have a certified appraisal of your old socks. Which really means that old socks are difficult to determine the value and may not be take as a deduction.