The IRS Deductions Blog

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Question: Tax credit for Goodwill donation?

I recently made a donation of clothing to Goodwill, first time since the store in our town just opened a short time ago. What I got as a receipt was just a form that said I had donated two boxes of miscellaneous items, no dollar amount. The girl who took the boxes did not know how this works as far as a tax credit on an itemized income tax return. Does anyone know how they calculate the deduction when tax time comes around again?

Answer: My tax guy says to take a deduction of one dollar per item. If you look at the prices in used clothing stores, you can claim that with a straight face even without receipts.

Items on Amazon Right Now for Goodwill Tax Deduction:

Tax Deduction Deadline

Any charitable donation that you want to count towards your 2009 Tax Deductions must be documented by December 31st of 2009. Tax expert Jeffrey Serbus said there are a few options that many people forget about during tax time.

Stacy Wharton/End of Year Donations Feature

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