What the IRS says about donating non cash items....

Source: www.irs.gov

When claiming a deduction on your taxes, the donation must have been donated to a charitable organization.  The deduction amount is determined by the item's Fair Market Value.  When determining the Fair Market Value of your donated items, the IRS recommends to assess the value based upon what a similar item would sell for in the exact same condition. Example:  Sally purchased a shirt from a major department store two years ago for $120.  Sally donated the shirt to a thrift store.  The average price of used shirts is $6, no matter the brand.  The Fair Market Value for her donation is $6.  Sally can deduct $6 from her tax liability. Read IRS Publication 561 for more information.

Thrifter's Paradise is a for profit entity.  Any donation made to Thrifter's Paradise is not tax-deductible.  However, Thrifter's Paradise, donates 7% of its annual profits to several local charities, as well as personally assists individuals and families in need under various conditions throughout the year.

Atlanta, GA, USA

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