jdiane318

I am a chapter coordinator for Project Linus in my area and we receive lots of donations from individuals during the year.

When we receive donations of fabric, yarn, batting, our receipt states the very thing that was donated to us per IRS rules. We cannot however put a monetary value on the donation. A lady gave us two irons, two older sewing machines, 18 boxes of fabric and scraps and 3 boxes of denim jeans. That is what was written on her tax receipt.

ckcowl

you have to donate to ligitimate non=profits that offer 'tax-receipts' such as good will, womens resource center, salvation army, habitat for humanity ect...
my 'tax man' told me you can claim actual (cost) of the fabrics ... in order to use your donations for tax purposes you have to be very good about saving receipts...the receipt you receive from the non-profit; the actual purchase receipts so you can show how much you did pay for the fabric in the first place. same for donating quilts...you can only claim cost of materials, not what you think the quilt is worth.
my husband and i have between $2500 and $3500 in donation receipts every year so always get to use the deduction, but the IRS does look at these amounts and it can (red-flag) your return for an audit...if they think you are trying to (scam them) so make sure to save every receipt and be prepared to prove your claim.

milp04

My first thought was to donate to Project Linus. I would at the very least make a list with an acccount of the number of different fabrics and the length for each, along with any other items donated. Get a signature where you donate the fabric to confirm your listing and donation given. The price of cotton is going up so your donation would be most appreciated.

Pam M

okiepastor

I am involved with multiple non-profits, and you can use the value (what you would get if sold) OR the cost, if you have receipts.But as stated in other posts, you need receipts. does not matter if the total is $100 or 10000.....
A donation will save you around 35% of the amt. of the donation on your taxes

earlylace

I think there is a limit on the donations, its $500 thats for clothing.

Maribeth

Thanks for the information. I am really busy w/work right now but will be thinking about this for later this year.

grugirl

There is a software program offered through tax software like HR BLOCK TAX software that I use each year. It is called Deduction Pro. When you use their software, this piece is available free to calculate all of your yearly donations. I have used it for years. You choose What you are donating from a list of items, The condition they are in and how much of it and it caculates it for you. However you file your taxes, ask a person or check out the software on tax deductions under Charitable Donations section and you will get good credit for it.

grugirl

Here is an excellent article on EHOW to figure out the cost of what you are donating.

Here is the link: http://www.ehow.com/how_2383951_calc...charities.html

ckcowl

you have to choose a non-profit organization which will give you an itemized receipt. you have to put the monatary value on your donation. the amount that is allowed is the actual cost and you need receipts if you get audited so proper documentation is a must.

grugirl

Another option I keep thinking about is donating it to a church that actually makes quilts for abused women or to donate to police to give out to victims, also the RED Cross may take it if they have orgs similar to this. It has to be a charitable organization that is a 501C tax organization. That ensures you will get the proper credit.