Here's a tip from the IRS: Hi, my name is Eric and I work for the Internal Revenue Service. Do you make non-cash contributions to charity? If you do, you could join the millions of Americans who donate to qualified charitable organizations every year and save on their taxes. Normally, if you give used clothing or other household items to charity, those items must be in good condition or better. As a general rule, that's the only way you'll get a tax deduction for the items you donate. Your deduction is based on the fair market value of the items you donate. Now, what in the world is fair market value, you ask? Well, basically, it is the amount that a willing buyer would pay to a willing seller for that item. And most of the time, that's a lot less than the original retail price of the item. Keeping good records is always a good idea. So, be sure to ask the charity for a receipt and keep a list of the items you donate. One final point to keep in mind is that in order to get a tax benefit from the items you donate, you must itemize your deduction on schedule A. To find out more about charitable contributions, go to the IRS website and download Publication 526. Don't forget, do it today! Download it from our very popular website WWE RS govt.
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Salvation Army Valuation Guide Form: What You Should Know
If you don't have all items in mind, the lowest estimated value may not be enough for all the repairs, and additional repairs may be needed if the item in question is old (over 20 years) or expensive (more than 5). Note: The average prices are calculated by weight (one item per pound). 1. Woolen Tissue, 3.00 2. Cotton Cloth, 1.50/lb. 4. Rags & Towels, 4.00/each 6. Clothing, 3.00 6. Rags & Towels, 4.00/each 9. Clothing, 3.00 9. Clothes, 5.00 10. Clothes, 3.00 11. Clothing, 5.00 11. Clothes, 5.00 The Salvation Army Thrift Stores Donation Value Guide for Donated Clothing & Shoes The following is for your guidance only. There are, of course, variables such as, condition, age, antique value, cleanliness, repair needs and value when new. The Salvation Army's Valuation Guide for Donated Clothing & Shoes. A Salvation Army donation value list in regard to clothing and items like shoes. If you have questions about these items, please call your local thrift store or call to ask more information. Please note: The actual donation value of donated items at Salvation Army Thrift Stores is determined by the amount of the total item, minus the value of the fabric, the cleaning, the cleaning and repairing, the insurance deductible, donations received, and any sales made (if applicable). For example, for a new item that is clean, no other repair needs to be done, the lowest estimated value may just be enough to cover a small portion of the cost of restoration, and no repair needed. You don't have to fill out all the fields on this form. Your information will be used by Salvation Army personnel for purposes such as responding to the Salvation Army, collecting donations and tracking their donation status.
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