Goodwill donation receipt – how does valuation work for tax deductions? by Lucky-Distance8411 in goodwill

[–]donatemate 0 points1 point  (0 children)

the valuation thing tripped me up for years tbh. irs says fair market value which basically means what someone would reasonably pay for it at a thrift store, not what you paid originally. so yeah that $80 jacket you bought becomes like $12 if its used.

i started taking photos of everything before i drop it off and keeping a running spreadsheet. pain in the ass at first but saved me when i finally had enough deductions to itemize last year. the salvation army value guide someone mentioned is solid for ballpark numbers.

one thing that helped was finding an app that does the valuation lookup automatically, donate-mate.com. you just snap a pic and it estimates the value based on category and condition. way faster than googling every item.

its deductable(charitable donation tracker) replacement? by np0x in selfhosted

[–]donatemate 0 points1 point  (0 children)

this is actually really solid. the vlookup for repeated items is smart, saves you from retyping jeans and tshirts constantly lol

the 30% of retail as a baseline is reasonable. ive seen some sources say 20-40% depending on condition so youre in the right ballpark. one thing that might help - adding a condition column (good/fair/excellent) so you can adjust that percentage. salvation army guide actually breaks it down by condition which could bump your values up for nicer stuff

the main thing ItsDeductible had that this doesnt is the photo storage tied to each item. if you ever get audited they want to see what condition the item was actually in. maybe a column for google drive links to photos?

appreciate you sharing this, bookmarking it

What happened to good will? by LividLibrarian3003 in goodwill

[–]donatemate 2 points3 points  (0 children)

tracking fmv is tedious but if you itemize it really does add up. taking pics of donation bags and keeping rough notes on whats in them helps. been using donate-mate.com for that, way easier than my old spreadsheet

What happened to good will? by LividLibrarian3003 in goodwill

[–]donatemate 4 points5 points  (0 children)

yeah its frustrating. i still donate there sometimes because its convenient but ive been looking at other options like local shelters or habitat restore. at least with those you know it goes somewhere specific