This year I downsized from a house to apartment. We donated a huge amount of stuff; all our rooms of furniture, broad amounts of clothing, small appliances, books, etc. This was also the year I have a severe drop in taxable income due to full retirement.
Understanding that the IRS flags on ratio of deductions to taxable income as well as the $500/$5000 thresholds for reporting requirements, what would be the best approach; claim some, none, or all the items knowing they are say $10000 valued all considered? (No appraisals done as no specific item was particularly valuable)
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Do you have any type of proof that you donated these items? If so, then you should report all of your donations.
If you did not get a receipt for your donations, then you should have kept some type of written log of your donations stating to who (drop off bin), location, items donated and value. If you have a record like this, then yes, you could still list all of your donations.
If you have no records of any of these donations and you just throw a random number out with no proof to back anything, then no, as you would not be able to prove that you actually made the donations.
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