Goodwill Industries of Middle Tennessee

If you donate during Goodwill regular hours, an attendant will offer you a donation receipt to keep for your tax records.  According to the IRS, it is the donor's responsibility to fill out the receipt and assess the donation's value.

Remember:

• All donations to Goodwill are 100 percent tax deductible.
• Goodwill does not keep permanent records of donations.
• You are responsible for placing a value on your donation.

For more information, read IRS Publication 526 for an explanation on the types of contributions you can deduct, how much you can deduct, what records to keep, and how to report charitable contributions.

Read IRS Publication 561 for more information on what defines "fair market value."  It also helps you determine the value of property donated to qualified organizations and explains the information you need to claim the deduction. Federal law provides that donated clothing and household items must be in good, used condition or better for tax purposes.

• Consult a local tax advisor who should be familiar with market values in your area.
• Contact a Goodwill store and price similar items. Or use our suggested value list.
• Review the tax guideliness available from the Internal Revenue Service.

• Property worth $500 or less: This is the case with the majority of donations to Goodwill. You only need to justify the deduction with the receipt provided by Goodwill. The receipt includes the donor’s name, address, date, and a list of items donated.
• Property worth more than $500, but not over $5,000: In addition to the receipt provided by Goodwill, you are required to complete IRS Form 8283, "Non-Cash Charitable Contribution." This form will contain written records of how the property was acquired, and your cost basis if the property was held less than 12 months. Also, if you are claiming an item worth $500 or more, you must have the item appraised, and save the certificate of appraisal with the receipt in your tax records.
• A single item valued at $5,000 or more, or several similar items donated in a single year whose value totals $5,000 or more: This donation must be appraised before the donation is made, and it must be obtained by the donor. Goodwill does not perform appraisals on any donations.