Donating old clothes and furniture vs Selling | TigerDroppings.com

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tdavi48
LSU Fan
baton rouge
Member since Mar 2012
601 posts

Donating old clothes and furniture vs Selling


I am moving into a new house and I am not bringing any of my old furniture and I am getting rid of a lot of clothes. I know you can donate it and get a paper from them showing you donated it and get a deduction at the end of the year. Would that be more beneficial than just trying to sell the furniture on craigs list?






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HeadyMurphey
LSU Fan
Los Santos
Member since Jan 2008
15762 posts

re: Donating old clothes and furniture vs Selling


That would be your decision. I believe the max you can deduct for donations or this sort is only $350 per year, or at least that is what I was told. I just go this route each year with clothes, etc..





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reb13
Ole Miss Fan
Oxford, MS
Member since May 2010
9831 posts

re: Donating old clothes and furniture vs Selling


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.





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Cold Cous Cous
LSU Fan
TD OG
Member since Oct 2003
13401 posts

re: Donating old clothes and furniture vs Selling


Obviously you'll get more $$ on craigslist but what a hassle. Last time I moved apartments I tried selling stuff and I made two sales (theoretically), both to college students. One dude I think got cold feet about spending $200 and flaked on me. He bitched that he called in the middle of the day and I didn't answer. I was napping, dammit. To be fair he was probably 18 and that seems like a lot of money to a kid that age.

The other supposed sale was to this law student who was shockingly . So she gives me $50 for this heavy chair, and I have to drag it into her car for her. Then two days later she claimed she found "insect damage" in the chair and told me she wanted her money back. So I had to drive down to her house and pay her back, and again drag this heavy arse chair our of her house and into the dumpster.






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Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
14967 posts

re: Donating old clothes and furniture vs Selling


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.






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krehn11
LSU Fan
IA
Member since Jul 2011
825 posts

re: Donating old clothes and furniture vs Selling


quote:

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.


Thank you for being intelligent. The previous post was absurd.






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lsu_tiger_az
LSU Fan
AZ/LA
Member since Mar 2004
30306 posts

re: Donating old clothes and furniture vs Selling


quote:

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.





The best way to support your donations is to (a) get a receipt from the donating entity, and (b) take photographs of the donated items and attach the photo(s) to your receipt.









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