IRS GuidelinesIf you itemize deductions on your federal tax return, you may be entitled to claim a charitable deduction for your Goodwill donations.
- Consult a local tax advisor who should be familiar with market values in your region
- Review the following tax guides available from the IRS
Determining the Value of Donated Property — defines “fair market value” and helps donors and appraisers determine the value of property given to qualified organizations. It also explains what kind of information you must have to support the charitable contribution deduction you claim on your return. (Publication 561)
To help you determine your donations fair market value Goodwill is happy to provide a “Value Guide” that offers average prices in our stores for items in good condition.
Charitable Contributions — explains which organizations are qualified to receive deductible charitable contributions, the types of contributions you can deduct, how much you can deduct, what records to keep, and how to report charitable contributions (Publication 526)
Goodwill will be happy to provide a receipt as substantiation for your contributions in good used condition, only on the date of the donation.