Tax donation question

Tax donation question

Post by Becky Goelt » Wed, 19 Apr 2000 04:00:00



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

 
 
 

Tax donation question

Post by D & B Mawdsle » Wed, 19 Apr 2000 04:00:00


You can deduct what you paid for the material.  

Barbara in Connecticut

Quote:

> 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



 
 
 

Tax donation question

Post by Helen M- » Wed, 19 Apr 2000 04:00:00


Yes- ask for an in-kind letter of acknowledgement from wherever
you donate the quilt- just let them know both the material cost
and time- be reasonable however. Any nonprofit worth its salt
has a standard in-kind form.
Helen in MN

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Tax donation question

Post by KateT » Wed, 19 Apr 2000 04:00:00


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

Quote:

> 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


 
 
 

Tax donation question

Post by the mulrooney' » Thu, 20 Apr 2000 04:00:00


Please contact ABC Quilts a non-profit group who provide quilts to
babies-at-risk. They can tell you how to donate, where, and how the tax
implications affect you in your country.
gramaJerm

Quote:

> 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


 
 
 

Tax donation question

Post by R&M Vaugh » Fri, 21 Apr 2000 04:00:00


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
charity.

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?

Midge

Quote:

> 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


 
 
 

Tax donation question

Post by Dragonfl » Fri, 21 Apr 2000 04:00:00


Mine were in early (about three or four weeks early), electronically
filed -- so the refund was in the bank before the tax return deadline!
First time in years I've been early, and it felt nice.
--
Dragonfly

http://members.bellatlantic.net/~sccole/quilts.html


Quote:
> 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
> charity.

> 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?

> Midge


> > 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