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Old 04-13-2005, 06:14 PM
Harlan Lunsford
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Default Re: Non-Cash Charitable Contribution Question

djohn554[at]yahoo.com wrote:

- quote -

> I have done this for several years and want to make sure
> that I am not doing anything wrong or anything to draw
> attention to myself:
> I have a charitable org. (United Way, etc) pick up bags of
> stuff from my home. Usually it is clothes, toys, etc. I
> dont itemize it, but write on the receipt what I donated
> "clothing, toys, books, shoes, etc" and give it an estimated
> value under $250 (based on thrift store value).
> I normally have 8-10 of these contributions a year (I dont
> like to keep things we don't use)
> This is truly what I've donated. Does this sound reasonable?


The correct answer is "it depends" (as to sounding reasonable).

the official method is to make a list of all the items you
donate each time on an itemized list and then price out each
item as to it's individual fair market value, and that
depends on cost when new, and condition when donated. then
add up the values for each separately donated list and that
IS the value. remember, with that many separate donations,
you list each one separately on a form 8283.

ChEAr$$$,
Harlan Lunsford, EA n LA
12 Apr 2005
3 days and counting.......\

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  #-1  
Old 04-12-2005, 08:16 PM
djohn554@yahoo.com
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Posts: n/a
Default Non-Cash Charitable Contribution Question

I have done this for several years and want to make sure
that I am not doing anything wrong or anything to draw
attention to myself:

I have a charitable org. (United Way, etc) pick up bags of
stuff from my home. Usually it is clothes, toys, etc. I
dont itemize it, but write on the receipt what I donated
"clothing, toys, books, shoes, etc" and give it an estimated
value under $250 (based on thrift store value).

I normally have 8-10 of these contributions a year (I dont
like to keep things we don't use)

This is truly what I've donated. Does this sound reasonable?

Thank you, in advance.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 

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charitable, contribution, noncash, question
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