Donation Receipt From Goodwill In Bronx
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FAQ
Write in the total fair market value of your donation. This value is determined by you, the donor. Goodwill provides a donation value guide to help determine fair market value. Please note: Goodwill employees cannot help determine fair market value.
The goodwill receipt is basically meaningless. You need to document what you donate and you need to substantiate its value.
Typically as you are dropping off the items you get a Donation Receipt from Goodwill. If you look closely at the Donation Receipt it tells you, “To obtain your Tax Receipt, please register your donation at .GWdonate. You will need to enter the donation receipt ID Number listed above” (on the Donation Receipt).
How much can you deduct for the gently used goods you donate to Goodwill? The IRS allows you to deduct fair market value for gently-used items. The quality of the item when new and its age must be considered. The IRS requires an item to be in good condition or better to take a deduction.
You can take a deduction for a contribution of an item of clothing or a household item that isn't in good used condition or better if you deduct more than $500 for it and include a qualified appraisal of it with your return.
Attach one or more Forms 8283 to your tax return if you claimed a total deduction of over $500 for all contributed property. Go to .irs/Form8283 for instructions and the latest information.
You can claim a deduction of up to 60% of your Adjusted Gross Income. If you donated household items in less than good used condition, if the total estimated value is more than $500, you may still take the deduction. However, you should include a qualified appraisal on your return.
