To Yard Sale...or donate...

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roadrunner Crossville, TN Mar 03, 2002

This is a very interesting program. My DD bought it and instead of selling things at a yard sale for a low, give away price, she finds that the items now are worth more tax-wise to dontate them to a chairty than sell them at a yard sale...and less hasstle!! You have to be able to "itemize" your deductions for it to pay off though. Jo

www.taxcut.com/itsdeductible/

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momcat northeast, IL(Zone 5a) Mar 04, 2002

Looks interesting!! The values they give to some of the clothing in the ad looks alot higher than what I usually estimate! Some charities also take old cars. Several years ago, I donated an old, non running car to the American Lung Assoc. and was given a statement saying it was a $1500 donation(the blue book price they said), and they even towed it away. (The local junk yard had offered $40 for it to use for parts.)

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roadrunner Crossville, TN Mar 04, 2002

Since I haven't enough expenses to itemize, I think I'll give DD some stuff I was going to get rid of...she can donate it in her name and get the deduction. Jo

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darius So.App.Mtns., United States(Zone 5b) Mar 04, 2002

rr... I always used to stack things away for some 'future' yard sale.... but recently, my neighbor, out of a job, went to a free clinic in town for a prescription. (She's a Social Worker, and always had a poor impression of 'freebies'.) Her description of the clinic, the care, the cleanliness, and all the decent attention she received has changed my mind (and hers!) regardless of tax decuctions, which I consider just a fringe benefit.

To that end, many of the things I have been going through for a friend (who has put his mother in Assisted Living) that won't bring much have gone to the Thrift Store for this Clinic. Works out great... he gets a tax deduction, and they get merchandise they can sell to help support the clinic. (The doctors and nurses are all volunteers.)

Looks like a Win-Win to me!

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roadrunner Crossville, TN Mar 04, 2002

According to this program, you can set a higher value...legaly...on things you donate, then you think you can...no more just a dollar for that nice dress you out grew. Jo

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