Wednesday, October 30, 2013

Get A Tax Receipt For Thrift Store Donations

Get a Tax Receipt for Thrift Store Donations


Charity thrift stores accept donated items to sell to the public, and use the profits to fund service projects. Donating to a thrift store helps you get rid of gently used items and might also get you a tax deduction -- if you choose a shop that is a qualified charity under US. tax law. A donation receipt provides the taxpayer with documentation of the contribution in case of an IRS audit.


Instructions


1. Identify a thrift store in your area that is being run by an eligible charitable organization. Use the IRS's online database if you have trouble finding a local group.


2. Contact the thrift store's donations department to find out the process for donating items and receiving a receipt. Take your items to the thrift store's donation area, following the store's instructions.


3. Ask for your receipt at the time of donation. Verify that it includes the name of the organization, its address and its contact information. Verify that the receipt includes relevant details of your donation, including the good faith estimate of the value of the donated items.







Tags: thrift store, donated items, Receipt Thrift, Receipt Thrift Store, Store Donations