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My wife makes quilts that we give away to charity's. Can we deduct her labor as she spends many hours doing these quilts?? If so what would a fair hourly rate be for us?
I do the same for Habitat but we build houses with their material? Can I deduct my time spent working??
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My wife makes quilts that we give away to charity's. Can we deduct her labor as she spends many hours doing these quilts?? If so what would a fair hourly rate be for us?
Unfortunately, you can't deduct the value of her time. Her deduction would be limited to out of pocket costs for fabric, thread, etc.
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My wife makes quilts that we give away to charity's. Can we deduct her labor as she spends many hours doing these quilts?? If so what would a fair hourly rate be for us?
Unfortunately, you can't deduct the value of her time. Her deduction would be limited to out of pocket costs for fabric, thread, etc.