Tag Archives: tax deductions

How To Make A Tax Deductible Donation

When you donate your used items, not only is it good for your closet, and the environment, but it’s also beneficial for your taxes. According to the IRS, you are able to deduct charitable contributions made to qualified organizations. This means that donating your used items to 9pickup can get you a tax-deductible receipt. Wondering how to make a tax-deductible donation? Keep reading to learn more!  

Ready to donate some lightly used items? 

Get your donations picked up for free, and receive a tax deduction for your donated items. This year is a great time to consider donating your used items because of the increase in the value assigned to tax deductions for charitable donations to certified charities and organizations. 

Now is a good time to make a tax-deductible donation!

The deduction increased to $300 per person rather than per tax return. This means that a married couple filing jointly could deduct up to $600 of donations without having to itemize. This makes it much easier and much more beneficial.

As long as your items are in fairly new/good condition you are able to deduct their market value on your tax return. That way, you also benefit from donating items making the entire process a win-win.

Make sure before you donate that the items are in good condition before scheduling your pickup. We are not able to accept items in poor condition. Check here for a list of our acceptable items. 

Easy donation pick-ups!

While terms like IRS and tax-deductible can seem confusing, and induce stress, there is no need to worry. 9Pickup comes to you and picks up your donations for free. We also write you a tax-deductible receipt for your donations. This makes the process as simple as possible for those looking to donate. Giving back shouldn’t be complicated, which is why we tried to simplify the process as much as we could. 

What items are considered tax deductible donations?

  • Clothing
  • Kitchen items
  • Bedroom furniture
  • Outdoor furniture
  • Shoes
  • Toys
  • Books, and more.

If you are interested in donating your used items to 9pickup , contact us and schedule your free pickup today!

How to Claim Donated Items on Your Tax Return

Another gift of giving is being able to claim the donation on your tax return.

As you gather your documents for tax prep, remember to itemize deductions on your federal tax return. This way you can claim charitable deductions for items you donated.

According to the IRS, you can deduct the fair market value of clothing, furniture, shoes, household goods or other items you’ve donated. Fair market value is the price a buyer would be willing to pay for the item and is based on the condition of the item. It’s illegal for charities to tell you what your donations are worth, but you can determine the fair market value of your items by referring to the guides available from the IRS. Additionally, these guides can help you figure out which organizations qualify for charitable contributions deductibles, how much you can deduct, what records and receipts you need, and more.

When making a monetary donation using cash, check or credit card, make sure you keep a copy of your receipt with the date, amount and name of the organization, just in case of an audit.
Non-cash donation regulations apply to deduction claims of more than $500 of clothing, furniture, and more. Non-cash claims of more than $5000 (such as in the case of a donated vehicle) require additional documentation that can be found on the IRS website under Tax Forms.

If counting a donation for which you received a gift in return, remember that your donation is the amount you gave minus the merchandise you received.

Finally, when calculating donations, be sure the donation took place in the tax year for which you are filing. While you can try to dig up your 2018 receipts, don’t rush to donate a bunch of stuff now to get a tax break this year. But do keep in mind that a donation now will benefit you next April.

Whether you’re simply tidying up your space or looking for a tax break for next year, let 9Pickup’s home pickup service take your unwanted or unused items. Call 1-888-9-PICKUP or fill out the convenient online form to schedule your pickup today.