lscho4jm

Hopefully this is the right board for this question. Those of you who donate quilts do you write them off on your taxes?

Quiltwoman44

no, never do. Even things given to a local charity for anyone in need, do not claim on my taxes. That is just me.

GingerK

I never have because my guild is a non profit organization. No money changes hands for the donation of the quilt or for the gifting of the quilt to a needy person.

mkc

Considering that the standard deduction for MFJ is $25,900 for 2022 and $27,700 for 2023, you'd have to have significant itemized deductions in order to have a quilt donation make a difference on your taxes if that's the basis for the question.

dunster

I don't claim them either. My understanding is that you can claim the cost of materials, but not the value of your labor.

lscho4jm

Thank you all!

WMUTeach

I do claim them. Yes, only the cost of materials, but that is something these days. I also keep records of what I donate should I ever be challenged. A list with a brief description of the quilt, a "receipt" from the organization, and a photo with date of donation. It has become habit now and takes only a few moments.

woodland creature

If your guild is a non-profit, then you certainly can claim any donated quilts as a charitable deduction. If it is not incorporated as a non-profit, then as far as I know, you can't claim a charitable deduction. I believe that technically you would need a receipt from the guild for the donation if the value of the items is more than $250 - I have done this with donations of goods to other non-profits and they are have always been willing to provide such a receipt. Depending upon your circumstances, however, as mkc mentioned above, the standard deduction is quite high, and you would have to have considerable deductions (charitable or others such as mortgage payments and state/local taxes to some extent) to make it worthwhile.

sewingpup

yep, supposedly, the standard deduction was raised under the last president so to qualify to itemize, you have to have a lot to deduct. Although a third of my income goes to medical expenses, I can't itemize.

KalamaQuilts

The standard deduction goes up automatically. It has really jumped because of inflation which is why it was so high this year.
I can't imagine any situation where I'd have enough deductions to make a difference on my income tax situation. Bill Gates I ain't