A common question we receive is about Goodwill tax deductions or tax write off for donations to Goodwill. According to IRS regulations, a non-profit organization like Goodwill cannot provide a donor with the dollar value of an in-kind gift. There are many sources to locate reasonableĀ values for your donations.
You may also findĀ ItsDeductible,Ā a free website made available by Intuit SoftwareĀ helpful when itemizing and valuing your donations.Ā The site provides typical thrift shop values that can be used in completing yourĀ IRS Form 8283.
Keep in mind thatĀ IRS Form 8283Ā is only required when an in-kind donation exceeds $500 fair market value.Ā Should the fair market value of a single item, or group of similar items, exceed $5,000, you must provide a certified appraised value of the item and Goodwill will complete Part IV of Section B of IRS Form 8283.
And we make it easy for you to keep up with your donation records using our donation tracker! You can input information about your donations throughout the year and print up a summary of all your donations during tax time.