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I donated a large amount of clothes, 20+ black contractor bags. which exceeds the $500 value when entering, should i just stop at around $500?

 
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ChristinaS
Expert Alumni

I donated a large amount of clothes, 20+ black contractor bags. which exceeds the $500 value when entering, should i just stop at around $500?

No, why would you want to lose out on a bigger deduction for your donation?

Being over $500 only means that an additional form-Form 8283- is added to your return. It shows the date of the donation, the organization, and a brief description of what you donated. You should already have accounted for your items in some fashion.

You do need due diligence on the cost of the items donated, but a little extra work can be worth the effort. If you choose to skip it for the sake of ease, that could be your loss.

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1 Reply
ChristinaS
Expert Alumni

I donated a large amount of clothes, 20+ black contractor bags. which exceeds the $500 value when entering, should i just stop at around $500?

No, why would you want to lose out on a bigger deduction for your donation?

Being over $500 only means that an additional form-Form 8283- is added to your return. It shows the date of the donation, the organization, and a brief description of what you donated. You should already have accounted for your items in some fashion.

You do need due diligence on the cost of the items donated, but a little extra work can be worth the effort. If you choose to skip it for the sake of ease, that could be your loss.

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