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What is the most I can deduct for donations to Goodwill, Salvation Army etc?

Submitted: 1316 days and 15 hours ago.

Category: Tax

Value: $8

Status: AWAITING CUSTOMER ACTION

Answer

The maximum of all contributions you can claim on your personal return is 50% of your income. If you give more that $500 non-cash contributions such as to Goodwill, Salvation Army, etc., you will need to get a Form 8283. On that form you give the names and addresses of the various charities you donated goods to. Also you list for each one, what you gave, when you gave it, how did you get it, when you donated it, how much you valued that donation for, and how you determined that value.

Expert:	Wayne Brasch
Pos. Feedback:	99.6 %
Accepts:	998
Answered:	4/1/2006

Accountant and Business C&onsultant

Master of Science in Taxation. Tax experience since 1963.

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