Do you make donations to charity during the year?  If so, it might be beneficial to claim these donations as a tax deduction.  Whether you write a check or donate your used personal items, you’ll want a system to keep track of your donations.
Receipt: In addition, if your donation is more than $250, obtain a receipt from the organization. Did you do some spring cleaning recently?  If you donated these items to a qualified charitable organization, you could be entitled to a deduction.  Once again, record-keeping is essential, but not impossible.  Not sure how to keep track of your donation? Additional records: You must also keep reliable written records for each item of contributed property.

If you made non-cash contributions, you may be required to fill out parts of IRS Form 8283.
This entry was posted in Money and tagged chart donations, clothing donation value, fair market value donation, household donation value, how to track donations, track your donations, valuation guide donation on April 15, 2013 by Running A Household. Welcome to Running A HouseholdWhether you’re moving into your first place or just trying to bring order to your current home, our resources are here to help you. Plus, you can save an extra 5% when you use your REDcard to pay, dropping the price to $65.83 (+ tax) with free shipping.

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