Charity Clothing Donation Tax Deductions

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Clothing Donation Tax Deductions

So you have a whole bunch of clothes that you want to donate to charity, and you would like to find out how to keep track of what you donated, so you can get a tax deduction. Well, this is the place. You will find information on how you should keep track of your donations, and links for how much your donation is worth or how to value your donation. You can help the world and your wallet at the same time.

First Things First

Can I deduct my clothing donation from my taxes?

If you don't itemize deductions, then you can not deduct a clothing donation from your taxes. Sorry, you won't get that bonus, but you can still feel good about donating to charity. If you itemize deductions, then keep reading.

What are my clothes worth?

How much can I deduct from my taxes?

The salvation army gives a good guide to how much you can record in your taxes for each item you donate.

Salvation Army Donation Valuation Guide

There are other guides out there, but for each guide you will have to use your judgment for the condition of your clothes. Below there is a link list for other valuation guides. If you have a better or favorite guide, add it.

How should I keep track of what I donated?

Basically, you need to write down the fair value of all of the items that you donate. As an example you could write:

3 Men's Shirts Good condition x $2.50 = $7.50
2 Men's Pants New conditions x $10.00 = $20.00
Total = $27.50

My accountant also recommends taking a picture of all of the items you donate in case there is any question of the value of the items. You don't have to take a picture of each item individually, but lay them all out (maybe in groups) and take a picture of all of it at once. Record the information about what each item is worth in each picture and keep it with that picture.

Make sure to get a receipt
The receipt may not have actual values of what you donated, or amounts, but you still need something that says you donated.
Important!

Don't Forget A Receipt

Make sure you get a Receipt of your Donation, or you can't deduct it.

Take it to the limit.

According to bankrate.com if you donate over $500 you will have to fill out an additional IRS form:

IRS Form 8283

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jstonedotorg

A guy who is NOT a CPA and has no background in taxes (other than paying them), but just donated some clothes and did some searching for what to do ab... more »

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