How to Get Tax Credit From Goodwill
Giving to Goodwill Industries not only supports a very dedicated group who gives back to the community, but it is recognized as a valid charitable organization by the Internal Revenue Service. To get tax credit for donating to the Goodwill, take the following steps.
Other People Are Reading
Instructions
-
-
1
Value your items before you donate them to the Goodwill. Go to the Goodwill website where they list suggested price ranges for donated items if you need help coming up with values for your donation.
-
2
Decide if you would give your items to a relative or friend. If so, the chance is pretty good that the donation is a high end tax credit. Otherwise, if your items are hard-worn and not in great shape, something you'd sell at garage sale or worse, you still get a tax credit but on the low end.
-
-
3
Arrange a time for the Goodwill to pick up your donated items. When you set a pick up date, make it clearly known that you want documentation for tax credit; especially if you can't be there for the pick up. Make sure the receipt is signed and dated my the person in charge of the pick up. Fill out the receipt stating the exact value of the items donated.
-
4
File or place the receipt of your donations to the Goodwill in a safe place, so you have it for your records when you do your tax return.
-
1
Tips & Warnings
By itemizing your deductions on your tax form, you can claim charitable donations.
Goodwill spends 83 percent of their revenues for job training programs, which assist hundreds of thousands of people each and every year.
Money donations are also accepted by the Goodwill.
Goodwill receives new or mildly used items. Clothing, furniture and appliances are donated, and then sold in a Goodwill retail store.
Avoid donating broken items.
