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re: Donating old clothes and furniture vs Selling
Posted on 4/25/13 at 7:45 am to HeadyMurphey
Posted on 4/25/13 at 7:45 am to HeadyMurphey
That's the most you can deduct without raising an eyebrow. Because in reality your stuff is worthless and the IRS knows this. But if it is worth more make sure to have detailed information about it.
1
Posted on 4/25/13 at 12:04 pm to reb13
The IRS most certainly does not know your stuff is worthless. Have you walked through a thrift store recently? And you can claim up to $500 of noncash charitable contributions without attracting undo attention from the IRS.
Do you think the IRS wants to audit taxpayers for their donations to charities? That would earn them lots of goodwill with the public and members of Congress.
Do you think the IRS wants to audit taxpayers for their donations to charities? That would earn them lots of goodwill with the public and members of Congress.
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