I have a large sports card collection that I am going to be donating to Goodwill. Estimated value is around $8,000. Do I need to get a special receipt/appraisal from Goodwill for something this large? How about if I cut it in half, and spread it over multiple years ($4,000 in 2019, $4,000 in 2020)?
I know when I usually make clothing donations to Goodwill, they give me a blank receipt, and I have to itemize the items myself. I am worried that if they give me a blank receipt for this donation, that it might not be enough for the IRS. Is there any special paperwork that I should be asking for when I make the donation?
You'll need to sign in or create an account to connect with an expert.
Yes, you do. Noncash donations over $500 in value require a record of how and when the items were acquired and their adjusted basis, and if the donation exceeds $5,000 in value, it'll need a written appraisal from a qualified appraiser.
Per IRS Topic Number 506-Charitable Contributions: You must fill out Form 8283.pdf, Noncash Charitable Contributions and attach it to your return, if your deduction for a noncash contribution is more than $500.
Related information:
Yes, you do. Noncash donations over $500 in value require a record of how and when the items were acquired and their adjusted basis, and if the donation exceeds $5,000 in value, it'll need a written appraisal from a qualified appraiser.
Per IRS Topic Number 506-Charitable Contributions: You must fill out Form 8283.pdf, Noncash Charitable Contributions and attach it to your return, if your deduction for a noncash contribution is more than $500.
Related information:
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
roscoedillon
Level 2
BillMc
Level 2
KarenL
Employee Tax Expert
ktrannnn
New Member
Bo23phil
Level 2