Do I need a special receipt from Goodwill for a large item donation?

[J-Lab]

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?

[HelenaC · Accepted solution]

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.

• Your contributions may carryover to future years. See Excess charitable contributions. Otherwise, if you want to spread the donation over several future years, you may want to donate the cards over several future years.

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.

• If you claim a deduction for a contribution of noncash property worth $5,000 or less, you must fill out Form 8283, Section A.
•  If you claim a deduction for a contribution of noncash property worth more than $5,000, you'll need a qualified appraisal of the noncash property and must fill out Form 8283, Section B.
• Special rules apply to donations of certain types of property such as automobiles, inventory and investments that have appreciated in value. For more information, refer to Publication 526, Charitable Contributions. 
• For information on determining the value of your noncash contributions, refer to Publication 561, Determining the Value of Donated Property.

Related information:

• How do I enter my charitable donations in TurboTax?