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Learning, Sharing, and Teaching => Taxes => Topic started by: Basenji on July 11, 2015, 08:14:05 PM

Title: Itemized charity tax deduction versus Craigslisting
Post by: Basenji on July 11, 2015, 08:14:05 PM
In the past we have given unwanted but not valuable items to Goodwill and other charities, and then wrote off the donations on our taxes. I read about people selling their unwanted things (e.g., eBay/Craigslist), and I may do that for selected valuable items. Does anyone have a monetary value or amount of effort cutoff they use for sell versus donate? Should I be more energetic about selling stuff?
Title: Re: Itemized charity tax deduction versus Craigslisting
Post by: TomTX on July 11, 2015, 08:21:56 PM
In the past we have given unwanted but not valuable items to Goodwill and other charities, and then wrote off the donations on our taxes. I read about people selling their unwanted things (e.g., eBay/Craigslist), and I may do that for selected valuable items. Does anyone have a monetary value or amount of effort cutoff they use for sell versus donate? Should I be more energetic about selling stuff?

$25. Or a bundle of several smaller related items (such as a selection of baby items) that total $25. And if the person is low-hassle, I'll plan to accept $20.
Title: Re: Itemized charity tax deduction versus Craigslisting
Post by: Basenji on July 11, 2015, 08:30:51 PM
Wow, thanks. Lower than I was thinking. Maybe I just need to get over the intimidation factor of selling stuff.
Title: Re: Itemized charity tax deduction versus Craigslisting
Post by: Cpa Cat on July 11, 2015, 08:58:38 PM
I always take used books and DVDs to Hastings or the used book store for cash. Whatever they don't accept, I donate.

I always donate clothes.

Small, garage-sale type items are packed up and taken to Goodwill (I don't keep a bunch of stuff around waiting until I have enough for a garage sale).

I have to be looking at at least $50 to even consider Craigslist. I find it to be a huge, annoying hassle. And if I've recently Craigslisted something and the annoyance is fresh in my mind, the threshold goes way up.
Title: Re: Itemized charity tax deduction versus Craigslisting
Post by: N on July 11, 2015, 10:04:22 PM
Im in Chicago, and here there are several facebook pages for areas/neighborhoods virtual garage sales. You list items in a post on the page. Ive sold a lot of stuff, and lots of lower priced items. (even 2$ items, sometimes) but Im an at home parent, and its not a huge time investment for me, so I consider any sale worth it.