23 Dec ‘Tis the Season for Donations and Deductions

With the house about to fill up with gifts and decorations, there is no better time to clear out unused or unwanted items while making the holidays brighter for everyone by donating to Goodwill. While you’re cleaning out your closet, make room on your tax return for a bigger deduction, because every Goodwill donation made before December 31 is tax-deductible.

During the final six days of 2012, donation attendants assisted 38,073 donors. That’s double the number of donors who ordinarily visit a Goodwill donation site during the course of a week.

Here are a few things to keep in mind when donating to Goodwill:

• If helps if you remove all hangers from clothing.
• Have an inventory of your items ready before your trip to Goodwill.
• If you wish to claim a tax deduction should request a receipt from the attendant when you drop off your donations. The IRS allows a deduction for each item, but it is up to the donor to estimate each item’s value.
• If you have a single donation worth more than $500, you will need to complete IRS Form 8283.
• If you have a single donation worth more than $5,000, you will need a qualified written appraisal.

There are more than 78 Donation Express Centers located throughout the 48 counties served by Goodwill Industries of Middle Tennessee.  Find yours.

As always, thank you for thinking of Goodwill and supporting our mission to serve those who have disabilities or other barriers to employment. Because of your generosity, Goodwill’s Career Solutions is on target to serve more than 18,000 clients in 2013.