I Get a Tax Break for Donated Items
I usually donate items that aren’t in great condition and won’t fetch top dollar at the consignment store, Goodwill or a local organization that helps refugees that have been resettled in my community. Then, I can claim my donation as a deductible charitable contribution on my tax return.
You must itemize on your federal tax return to claim charitable contributions. When you donate items, the dollar amount you can claim as a tax deduction is based on the items’ market value — not what you originally paid for them. And, you should get a receipt from the charitable organization. If you claim a deduction for an item over $5,000, you need a qualified appraisal.
To figure out how much my donations are worth, I use the Goodwill Industries International donation value guide, which provides price ranges for items commonly sold in Goodwill stores.
