How to Value Donations for Taxes?

Answer If you have made a donation to an organization that you want to claim on your taxes, you can claim only the fair market value of that donated item. According to the Internal Revenue Service, a sing... Read More »

Top Q&A For: How to Value Donations for Taxes

How much in donations can you write off on your taxes?

For most donations, your deduction cannot exceed 50 percent of your Adjusted Gross Income (AGI). Contributions to veterans' organizations, fraternal societies and nonprofit cemeteries are limited t... Read More »

Goodwill Donations & Taxes?

Goodwill is classified as a charity by the federal government, meaning that those who donate items to the thrift store are allowed to deduct the value if they itemize their income taxes, according ... Read More »

Can PTA donations be deducted on taxes?

The national Parent Teacher Association, more commonly known as the PTA, is registered as a 501(c)(3) non-profit agency, and contributions to it are tax deductible. To deduct contributions to your ... Read More »

How much can you deduct from your taxes for clothing donations?

Making clothing donations is a smart way to trim your tax bill, as you can deduct your clothing donations from your taxes. You must be truthful and honest when calculating how much you will deduct... Read More »