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Old 01-09-2013, 06:47 PM
  #24  
GrannieAnnie
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Join Date: Aug 2010
Location: S. W. Indiana
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Originally Posted by Scissor Queen View Post
There are special rules for donations of that type. The first rule is it has to be appraised. Unless you are a famous quilter whose quilts are worth loads of money you don't need to worry about something like that.

You get to deduct the amount of the materials. BUT (big but) You should only use itemized deductions if they're more than the standard deduction and the standard has gotten so high lots and lots of people don't have enough itemized deductions to make it worthwhile.

If you could get a much higher credit for an appraised quilt, why on earth would you "worry" about it? If it were me, I'd get the appraisal in a heart beat.
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