Thread: Tax Time!
View Single Post
Old 01-30-2011, 05:47 AM
  #20  
MomtoBostonTerriers
Senior Member
 
MomtoBostonTerriers's Avatar
 
Join Date: Jul 2010
Posts: 462
Default

Originally Posted by Kathios
Hi. I'm a Project Linus Coordinator in NH. Many volunteers will ask for a Gift In Kind statement when they donate quilts. This form has our Linus information, tax ID, etc., and I add the number of quilts, the date, volunteer's name, etc. We are not allowed to put down a value, as that is the decision of the person who made the quilt(s). So when you find an organization where you are going to donate your quilts, please request this form from them. Some quilters make the determination based on the cost of the materials. Others add in their time.....sometimes they double the cost of the materials. I've not heard of anyone having trouble with the IRS, so good luck!
Sigh. Some folks probably do add in the value of their time, but that is specifically prohibited by the IRS Code. It is fraud. Although some people get away with it, it is still fraud. See item #2 in the attached article.

http://www.irs.gov/newsroom/article/0,,id=106990,00.html
MomtoBostonTerriers is offline