Do you take a deduction on income taxes when you donate a quilt to charity, and, if so, what amount do you deduct? Thanks!
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Welcome to the board from Southern California!
I believe that you can deduct the cost of your materials not the cost of your time. So figure out what your fabric, thread and batting costs are. It is best if you have some kind of receipt from the charity receiving your donation. Write the information directly on your receipt. |
according to the guidelines you can claim the cost of the materials used...you need your receipts.
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Being a chapter coordinator for Project Linus, I hand out donation receipts for anyone who asks. Several of the ladies use these for their taxes. One lady takes pics of all her quilts, puts them on a cd and then keeps the receipts for her taxes, in case she is ever audited. You can deduct your cost of materials but not your labor.
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I have donated quilts to a fund-raising auction, and they send letters with the amount raised on the sale of each quilt.
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Hello from Western Mountain Maryland !!
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Hello and welcome from florida. pab
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