Tax Question: Too many donations?

[cardboardbox]

We never donated to Goodwill until last year when the bags of old clothes finally started taking up too much space. So we made a list of everything in them and brought them to Goodwill. We came up with a pretty high $ amount and I'm wondering at what point does the IRS get suspicious about donations on tax returns?

[heyelander]

We never donated to Goodwill until last year when the bags of old clothes finally started taking up too much space. So we made a list of everything in them and brought them to Goodwill. We came up with a pretty high $ amount and I'm wondering at what point does the IRS get suspicious about donations on tax returns?

for goodwill stuff you are supposed to claim the value they can sell them for, not the value you bought things for. Most stuff usually sells for a few bucks.

[joncarlos]

We usually claim $25/bag unless the stuff was really nice (meaning my wife's work clothes), then we might go $50.

I remember hearing that there was a limit of $500/year... I don't know if that's an actual rule, or a level that raises suspicion, or what.

[Controller Jacobs]

I recall you can claim up to $500 total charity without receipts. Otherwise I believe Goodwill has a form you can fill out with recommended amounts.

[schlesinj]

I recall you can claim up to $500 total charity without receipts. Otherwise I believe Goodwill has a form you can fill out with recommended amounts.

That is my understanding and typically what I claim.

[cardboardbox]

I recall you can claim up to $500 total charity without receipts. Otherwise I believe Goodwill has a form you can fill out with recommended amounts.

They gave us a blank receipt that I suppose we are supposed to fill out. Other than that I have no proof.

I didnt find a price list from the IRS but did find this: http://www.goodwillmidmichigan.org/donationsheet.html
MEN’S CLOTHING

Suits ............................. $15-40

Jackets............................ $8-20

Slacks............................. $3-11

Shirts................................ $2-6

Outerwear....................... $7-16

Sweaters........................... $2-8

Accessories....................... $2-8

Shoes.............................. $2-10

My estimates are mostly on the high end of those ranges, sometimes over. For example I estimated that each non tshirt was $35 new, then took 25% of that giving me $8.75 in donated value. Tshirts were $20 so the donated value was $5. Perhaps I need to reduce my purchased price estimate a little to fall into these ranges.

The bigger problem is that we donated a crapton - probably 10-15 huge yard trash bags filled to the top. So even if I'm well within the ranges in that link above, I'm still donating way more than $500.

[heyelander]

well, you have a receipt, and if you actually itemized what you gave you should be fine if anything is questioned. If you are concerned about bringing unwanted attention for other reasons, then maybe reduce it.

[billbuckner]

You're a crook and will end up in jail

[cardboardbox]

It's not a big deal, still. Just get a receipt from Goodwill when you donate and you're covered. I'd suggest that you use their donation $ schedule instead of making up your own, though.

thanks, I will ask for their donation schedule.

[cardboardbox]

You're a crook and will end up in jail

most likely yes.

[Kevin Seitzer]

You're a crook and will end up in jail

Just don't try to borrow a book on fantasy baseball on interlibrary loan from Mith's library when you do get sent up.

[SeaDogStat]

most likely yes.

Talk to gashousegang about taxes...