Announcement

Collapse
No announcement yet.

Advice on Selling an Expensive Suit

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    #16
    Originally posted by mebejoseph View Post
    If he's close to having a benefit of itemizing, he could save up donations over two or three years and make them all in one year. Also, if you bring a few shopping bags full of clothing to Goodwill in my area, and you're really nice, they usually give you a receipt that says something like, "five bags of clothing." Who is to know how many $4,000 suits are in that bag?
    You must go to a similar Goodwill as me. The store I go to just hands you a blank receipt!

    Comment


      #17
      Originally posted by jonATL View Post
      This is great information. You could just donate it and take the tax writeoff?
      Yes, for $400–800 if you are not taking the standard deduction.

      Edit: this should not be considered tax advice.

      Comment


        #18
        Originally posted by CK83 View Post
        You must go to a similar Goodwill as me. The store I go to just hands you a blank receipt!
        Despite my smart-ass comment above, I actually try to take photos of everything we donate, because it may not be believable.

        Once my wife donated 30 pairs of her dress slacks, about a dozen pair of jeans, and about 25 skirts and dresses. Would the IRS believe that in an audit? I'm not sure--so, I take photos.
        WHY ARE THE GUYS IN SUITS HERE? HAS SOMETHING GONE WRONG?

        Comment


          #19
          Originally posted by mebejoseph View Post
          If he's close to having a benefit of itemizing, he could save up donations over two or three years and make them all in one year. Also, if you bring a few shopping bags full of clothing to Goodwill in my area, and you're really nice, they usually give you a receipt that says something like, "five bags of clothing." Who is to know how many $4,000 suits are in that bag?
          I get a donation receipt that is filled in with the date and nothing else. I’ve donated lots of $4k suits...


          Sent from my iPhone using Tapatalk

          Comment


            #20
            Originally posted by tayloreuph View Post
            I get a donation receipt that is filled in with the date and nothing else. I’ve donated lots of $4k suits...


            Sent from my iPhone using Tapatalk
            Me Too! Plus, last year, I donated a rare Picasso, a Louis XVI chair, and a Ming vase. Screw Trump and his punitive limitation of the tax deduction for state income and property taxes (I'm in California, so that hit me HARD).

            Who needs those when Goodwill hands out blank receipts?

            Oh boy--I've gone way off track now. Sorry.
            WHY ARE THE GUYS IN SUITS HERE? HAS SOMETHING GONE WRONG?

            Comment

            Working...
            X