Solved: What is the maximum charitable deduction for a single Goodwill receipt? This is an on going debate with my fellow CPA's. My understanding is $250

cpazott · ‎12-06-2019

The client is still responsible for a detailed list of items. Over $250 the orgainzaiton has to acknowledge the items and the value. Every year, I get the client that gives me a "hang on the door" receipt and wants to claim $1500.

abctax55 · ‎12-06-2019

The *maximum* is what was actually donated (in good condition) at the FMV. There's no limit to what one can donate to Goodwill.

BUT, I require my clients to document what, when, where, FMV on that receipt 'hung on the door' if it gets into big bucks (I consider $ 1500 big...)

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abctax55 · ‎12-06-2019

The *maximum* is what was actually donated (in good condition) at the FMV. There's no limit to what one can donate to Goodwill.

BUT, I require my clients to document what, when, where, FMV on that receipt 'hung on the door' if it gets into big bucks (I consider $ 1500 big...)

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"

IRonMaN · ‎12-06-2019

What is a "hang of the door" receipt?

Slava Ukraini!

abctax55 · ‎12-06-2019

You leave your "stuff" by the front door (or garage door), they swoop by & pick up - leaving a blank receipt for you to fill out.
See the issue?

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"

IRonMaN · ‎12-06-2019

No issue at all. No deduction.

Slava Ukraini!

Just-Lisa-Now- · ‎12-06-2019

What kind of documentation are they bringing you? Itemized list with FMV pricing, photos of the items donated?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

TaxMonkey · ‎12-06-2019

$250 is the max cash deduction without a statement from the charity.

The max non-cash without an appraisal is $5,000, although you could argue that you donated items that were in different categories, each under $5,000. Such as $4,000 worth of clothes and $4,000 worth of furniture, for $8,000 total with no appraisal.

What is the maximum charitable deduction for a single Goodwill receipt? This is an on going debate with my fellow CPA's. My understanding is $250

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