Hello folks. I have a question in regards to when you claim donations for when you file taxes. Are you supposed to get a form or anything from where you donated what to, like how much they valued it as? I recently donated a bunch of old clothes that I never got anything from them when I did drop it off. I have a bunch more stuff to drop off, this time household items and objects. I did some googling and couldn't find anything specifically about getting something from the accredited 5013c place. Just guidelines on the percentage of the market value of what it is that I donated. So with the items, should I just itemize what I have. Find the retail value, and then claim 20% of that as a donated value? Do I even need them to value what I donated? Thanks for reading and your responses.
Do I need the Charity to value the donation and give me a form?
byu/ForIKnowNothing intax
Posted by ForIKnowNothing
1 Comment
The charity should give you a receipt. Often they will give you a blank and leave it up to you to fill in your name and what you donated. It’s up to you to value the items, the charity isn’t responsible for that. The value is generally “thrift store value,” i.e. what you would expect to pay for it at a thrift store.