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Donating, and the tax deduction
A deduction usually only helps if you itemize.
Donating to a qualified charity can be a tax deduction, but for many households it doesn't change their tax bill, because they take the standard deduction.
Good to know
- Clothing and household items generally must be in good used condition or better
- The deduction is generally the fair market value, which is usually far less than you paid
- Get a receipt, and keep a list of what you gave
- Larger donations have extra record-keeping rules
Check current rules
Tax rules for charitable deductions change. See IRS.gov or a tax professional.
General information, not tax advice. Centsational Deals isn't paid by any store, marketplace or reseller.