Too late for this year, but here's the scoop. When making a donation, you
cannot claim the value of your time -- only the cost of making something. So
if you are donating your quilt, all you can deduct is the fabric, etc. If you
are donating a quilt that you bought and paid $$$ for - you can deduct what
you paid or its fair market value now whichever is lower.
So you are better off selling the quilt and then donating the cash to a
If any item is over $250, you need to have an acknolwedgement for the donation
(item or cash). If the total of your non-cash items is over $500, you need to
fill out a form 8283 as well as putting the donation on your Schedule A.
Did everyone get their taxes done on time this year?
> If I remember correctly, any deductions taken for chairtible organizations
> that will total 500 dollars are the end of the year will have to have
> documentation to go with your tax forms.
> Kate T.
> South Mississippi
> > Hi all,
> > I would like to know if any of you can tell me if I can donate any
> > of my baby quilts, placemats or just lap quilts to any nursing homes, or
> > homes for abused children & get a tax write off as gifts? I have some
> > on hand & would like to start getting some good out of them. This is
> > for the state of AZ.
> > Let me know any information you can give me.
> > Becky Goeltz