I donated a kitchen stove to Habitat for Humanity. They gave me a receipt and said to fill in the value myself. The stove was originally $1200, is 5 years old and I am saying it is $500 because it has a convection oven and is in good shape.
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MomToBostonTerriers: Thanks so much for the info and the link. I'm printing the info so I have proof that you are not able to include the time and effort that went into making the Project Linus quilt. Sure makes my job easier!
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If you have them appraised you can deduct the value, but the appraisal would cost more than what you'd save on taxes.
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Mr Davidwent, are you the one with the longarm and do you do quilting as a business. If you do have a business doing quilting for the public then you can take a deduction as charitable contribution on quilts. If not then doing the schedule A is the only way to go. Maria--TX preparer and business owner.
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Because I kept seeing this " Tax" thread but avoided looking, I now DO have my taxes 90% ready to go to Tax Lady. I just thought people were moaning and I so hate to get ready for my taxes. I keep my stuff together but do not keep a record book.....next time, I will read the thread first, feel guilty later....but thanks, cuase now that Tax unpleasantness is out of the way!
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I haven't had any problem deducting mine over the years. I usually get a letter or form signed from the charity. I write on the back what type of quilt, size, date and what I est. the cost of materials. I think adding the pic is a great ideal tho'
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I think you can only deduct the cost of fabric, pattern etc so keep your receipts. :-)
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I am pretty sure that if you have to ship these donation quilts (Downey) that the postage is also deductable.
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Originally Posted by MomtoBostonTerriers
Originally Posted by butterflywing
what if it's raffled, sold or auctioned by a charity? does that affect the value?
piney |
Thanks for this information. Better safe than sorry!
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