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This is regarding charitable contributions...I generally…

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This is regarding charitable...

This is regarding charitable contributions...I generally donate clothing and household items throughout the year.

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

Now I really need to get rid of whatever I can due to the new tax bill.

Accountant's Assistant: Is there anything else important you think the Accountant should know?

I have donated on about a dozen occasions this year of household goods, furniture and clothing that total $4500.00 If I donate $1000 more in four separate donations, will I then cross the $5000 threshold and need an appraisal for all of the clothing and household items that i have donated? Or does that rule only apply for a SINGLE donation over $5000? thank you!

Submitted: 7 months ago.Category: Finance
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Answered in 3 minutes by:
12/2/2017
Financial Professional: TaxRobin, Senior Advisor replied 7 months ago
TaxRobin
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Financial Professional: TaxRobin, Senior Advisor replied 7 months ago

Generally, if the claimed deduction for an item or group of similar items of donated property is more than $5,000, you must get a qualified appraisal made by a qualified appraiser, and you must attach Section B of Form 8283 to your tax return.

If you are giving to Goodwill they have a process in place. If a donor is claiming over $5,000 in contribution value, there is a section labeled “Donee Acknowledgement” in Section B, Part IV of Internal Revenue Service (IRS) Form 8283 that must be completed. The form and instructions are available on the IRS site and can be accessed through this link, IRS Tax Forms. A member of the management staff must verify that the donation receipts match the completed form and fill in the date of donation/s in this section. In addition, Goodwill’s name (Goodwill Retail Services, Inc.), store address and identification number (39-2040239) must be completed. Management staff must also provide their signature, title, and the signature date.

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Customer reply replied 7 months ago
Okay, so if I have donated over $5000 in TOTAL donations throughout the year in clothing and household items, I need to have an appraisal....
Customer reply replied 7 months ago
can I separate clothing from household items?
Customer reply replied 7 months ago
Hello?
Financial Professional: TaxRobin, Senior Advisor replied 7 months ago

No, unless you made the one time donation

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Financial Professional: TaxRobin, Senior Advisor replied 7 months ago

Yes you can separate out the different types of items

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Customer reply replied 7 months ago
Okay, so just so I am clear (because I use ItsDeductible to track and report my charitable donations)...this program groups all of my donations into clothing, accessories and household items on form 8283. Last year it listed twelve of these individual donations, all valued between 2 and 4 hundred dollars. The IRS does not ADD all of these donations throughout the year together to arrive at a total valuation of over $5000?
Customer reply replied 7 months ago
For hypothetical purposes let say in last year's example that there were twenty individual donations....
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