Taxes and Your Donation
Changing lives. These two words represent how deeply your donations affect our community – your donations are changing the lives of people with disabilities in a positive way by providing opportunities for vocational rehabilitation and employment. Your donations can empower people with disabilities with the tools they need to achieve their dreams.
You will be able deduct your donations of materials to Goodwill if you itemize your deductions. Please consult your accountant, attorney, or an IRS office for detailed information.
Reporting - If Donated Goods Valued At:
- Less than $500 - Report the actual amount. Retain copies of your receipts and all itemized lists of goods donated. Receipts/ list should reflect full descriptions of each item and the "fair market value" as determined by you.
- $501 through $5,000 - Retain your receipt and information as indicated above. If filing your own taxes, complete and submit with your return Section A of IRS Form 8283.
- $5,001 and more – Please plan large donations with us in advance to simplify "tax time" procedures for donations that exceed $5001. Advance preparation is necessary because a Goodwill representative is required to sign your completed IRS Form 8283.
- Receipts - Remember to request a receipt from the attendant on duty when making a donation! We do not retain copies. You will need your receipts to support your deduction with IRS.
- Valuations - The IRS states it is the responsibility of the donor to establish the value of donated goods. This is called "fair market value". Fair market value can be determined by a visit to one of the Goodwill thrift stores to review selling prices. *Note: Goodwill employees are not permitted to evaluate or verify your evaluation of any donation, per IRS regulations.
Sales of your donated goods help us train & employ people with disabilities. Thank you for your support!