Level 3

Multiple donations to Goodwill of clothing and household items that total over $5000

Forum|Forum|4 years ago
March 18, 2022
2 replies
12 views

I have a client who has made 18 donations to Goodwill for clothing and household items. Each donation has been under $2500 but the total for all of them is $14,000. Am I correct that you need to aggregate all of the donations as if they are one and get an appraisal?

This topic has been closed for replies.

sjrcpa

Level 15

Are you really buying that their crap (used stuff) is worth $14K?

If yes they need an appraisal.

Or they could deduct less than $5K.

The more I know the more I don’t know.

abctax55

Level 15

Hard to get an appraisal after the fact/after all the donation 'bags' be gone...

HumanKind... Be Both

sjrcpa

Level 15

Yep.

The more I know the more I don’t know.

qbteachmt

Level 15

Have them list a bunch of the most valuable items and have them (or you) use It's Deductible. It will help them see the "worth" of the stuff they gave away. Just a few of the big ticket items should help you and them do a validity check on their stuff.

Don't yell at us; we're volunteers

S

saboyercpaAuthor

Level 3

I am trying to see if you can group clothing together and group household items together and deduct each of them at $4999. I thought maybe that is what the prior CPA was doing. Or it could be that he is just completely clueless.

IRonMaN

Level 15

"Or it could be that he is just completely clueless"

Not all CPAs are created equal. If some us us were surgeons instead of CPAs, there would be a lot more names showing up in the obituaries every morning.

Slava Ukraini!

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