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Charitable donations and the $5,000
I am planning to donate 235 clothing items to a charity this week -- mostly suits, coats, dresses, work items -- using goodwill charts, it values to $4962 -- do I need a special receipt?
I still have other items I want to donate/empty house of but I do not want the $5,000 headache, which I am not sure what to do if my donations are that amount or more. Can I donate the other items to a different charity or should I just wait until next year? Is the cut-off of $5,000 per year or per charity?
Thank you!
I still have other items I want to donate/empty house of but I do not want the $5,000 headache, which I am not sure what to do if my donations are that amount or more. Can I donate the other items to a different charity or should I just wait until next year? Is the cut-off of $5,000 per year or per charity?
Thank you!
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Charitable donations and the $5,000
Nope you are OK since the total is less than $5K.
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Charitable donations and the $5,000
Nope you are OK since the total is less than $5K.
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Charitable donations and the $5,000
An contribution of $250 or more, you need a receipt that has the required information:
<a rel="nofollow" target="_blank" href="https://www.irs.gov/publications/p526#en_US_2016_publink1000229843">https://www.irs.gov/publications...>
Personally, I would also itemize everything that you are donating and take pictures of everything.
<a rel="nofollow" target="_blank" href="https://www.irs.gov/publications/p526#en_US_2016_publink1000229843">https://www.irs.gov/publications...>
Personally, I would also itemize everything that you are donating and take pictures of everything.
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Charitable donations and the $5,000
Thanks. I always keep a record of every item, for sure. And I can receive a standard, written receipt; that is what I was mostly wondering, if that is sufficient? This is for a clothing/donations drive I set up at my work for veterans. I could have them come to my home if I needed something different than their standard receipt. Thank you again!
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Charitable donations and the $5,000
<a rel="nofollow" target="_blank" href="https://www.irs.gov/pub/irs-pdf/f8283.pdf">https://www.irs.gov/pub/irs-pdf/f8283.pdf</a>