Goodwill/Donation Tax Credit?

[MidgeMommy]

How does this work? I have been dropping stuff at Goodwill and they never offered any form of reciept...Do I have to ask for it? They're all clueless teenagers, so I'm asking here before I ask there.

[Happygrl6]

As it gets close to the end of the tax year, they've always offered me one. But if I drop off the rest of the year, I have to ask them.

Make sure you have a list of what you took before you go. At my Goodwill (and other thrift shops), they give me a blank receipt to fill in.

[ustasmom]

I drop at Salvation Army.

First, I inventory and enter it in the Its Deductible program available through Turbo Tax online. Then I take a picture. It is then bagged up and dropped off during staff hours, not in a box.

They have a receipt book at the counters and you fill out the name/address part and they will write what you dropped off, like 6 bags of clothing, good condition.

I cleaned out my attic last year and my charitable deductions, thrift store value, is almost $12,000. You better believe that I will be taking that tax write-off.

[mamamilkers]

Interesting, mine always, always asks.

Out of curiosity, how much does it really help on your taxes? Is it worth the trouble? I always decline a receipt because I don't want to have to keep track of it all.

[ustasmom]

Originally Posted by mamamilkers

Interesting, mine always, always asks.

Out of curiosity, how much does it really help on your taxes? Is it worth the trouble? I always decline a receipt because I don't want to have to keep track of it all.

A huge amount. Granted this was a big year. Usually I donate about $5000 of items. But in the lowest tax brackets of estimations, Turbo Tax is telling me that my estimated savings is just shy of $3,000 of extra tax refund. :

[Bellejar]

Ask for a receipt when you drop off. Also make an itemized list of the things you donate. I think the salvation army puts out guidelines for resale. They list items and a range of amounts you can use for tax purposes. The things are only worth what their resale will bring.

[MidgeMommy]

$3,000!!!!!!!


Wow. I'm making a HUGE trip to Goodwill, and getting the receipt.

Thank you for this, I guess the teenagers are just lazy.

[lmonter]

Depends on your state. In Idaho, yes, you can deduct donations. In Washington, no. So my parents cross the state line to donate stuff (it's an 8-mile drive, don't worry) and get us a receipt if they remember.

I can also donate books to the library, get receipts and count those in the donation part come tax time as well.

But our Goodwill trailers are staffed by middle-aged guys who always ask if you want a receipt anyway.

[polyhymnia]

Originally Posted by lmonter

Depends on your state. In Idaho, yes, you can deduct donations. In Washington, no. So my parents cross the state line to donate stuff (it's an 8-mile drive, don't worry) and get us a receipt if they remember.

I can also donate books to the library, get receipts and count those in the donation part come tax time as well.

But our Goodwill trailers are staffed by middle-aged guys who always ask if you want a receipt anyway.

Huh? I'm in Washington, and our Goodwill guys always give us a refund receipt. DP's parents use it; we just take the standard deduction so we don't bother.

Can I ask a spinoff question? How do you know whether to take the standard deduction or to itemize?

[lmonter]

Originally Posted by crayolaab

Huh? I'm in Washington, and our Goodwill guys always give us a refund receipt. DP's parents use it; we just take the standard deduction so we don't bother.

Can I ask a spinoff question? How do you know whether to take the standard deduction or to itemize?

Maybe they changed the tax laws recently. I just remember year after year after year of my dad b!tching about not being able to claim donations on their taxes. But, being my dad, who knows.

We use Turbotax via Fidelity (we have accounts there so we get half off the fees), and just input everything. The program adds up whether we're better off doing the standard deduction or itemizing it all.

[Iris' Mom]

Ask for a receipt if they don't give you one. I believe you can claim up to $250 without a receipt, but there were some recent changes to the tax code that I am not up on. They did change the documentation required for a monetary contribution.

[polyhymnia]

Originally Posted by lmonter

Maybe they changed the tax laws recently. I just remember year after year after year of my dad b!tching about not being able to claim donations on their taxes. But, being my dad, who knows.

We use Turbotax via Fidelity (we have accounts there so we get half off the fees), and just input everything. The program adds up whether we're better off doing the standard deduction or itemizing it all.

Well I could be wrong about what DP's dad is using the receipts for, I just know that he always reminds us to be sure to get him one when we drop things off for him.

I wonder if TaxCut or whatever it is that we use will do that. Hmm...

[b&c'smama]

I have to ask for a receipt about half the time.

[miss_sonja]

Originally Posted by lmonter

Depends on your state. In Idaho, yes, you can deduct donations. In Washington, no. So my parents cross the state line to donate stuff (it's an 8-mile drive, don't worry) and get us a receipt if they remember.

I can also donate books to the library, get receipts and count those in the donation part come tax time as well.

But our Goodwill trailers are staffed by middle-aged guys who always ask if you want a receipt anyway.

It doesn't matter about the state for your FEDERAL taxes, where you can deduct charitable donations.

Always get a receipt!

[annekevdbroek]

WFIW - Our accountant says 1) itemize what you take 2) get a receipt 3) take a photograph of yourself at Goodwill dropping off the items.

You can claim only the Goodwill/thirft store value of goods. (not their new value).

Our Goodwill always offers a reciept and the back has a valuation guide.