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Tax Information

Goodwill Industries of Southwest Florida is an IRS-approved 501(c)(3) nonprofit organization, which means donations to Goodwill are often tax-deductible.  IRS guidelines for charitable contributions are available on IRS Publication 526 or by calling toll-free 1-800-829-1040.

 

Deducting Your Donation

  • Only taxpayers who itemize (use the long form) can deduct charitable donations. 
  • Save all of your paperwork.
  • Always consult a tax accountant if you have questions about your claim.

Retail Donations:

  • For donated items worth less than $500, you are expected to provide the "fair market value" of the items when filing your tax return.  The "fair market value" of a donated item can vary greatly.  If you bought a new shirt for $40 a decade ago, then donated it to a charity that resold it for $3.99, then its "fair market value" is $3.99, not $40. Visit Goodwill Industries International's valuation guide for estimated values of commonly donated items.
  • When filling out your donation receipt, please try to include as much information as possible about the type and quantity of your donated items. Trying to claim $400 for "one bag of clothes" is a red flag to auditors.
  • If you believe your donation is worth more than $500, you must submit an IRS Form 8283 with your tax filing.  The IRS will also require a professional appraisal for these items. The cost of the appraisal may also be deductible as a miscellaneous expense.

 

Goodwill Industries of Southwest Florida, Inc.'s registration # is CH1930. A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL-FREE 1-800-435-7352 WITHIN THE STATE OF FL.REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL, OR RECOMMENDATION BY THE STATE.  PLEASE VISIT www.800helpfla.com FOR OFFICIAL REGISTRATION INFORMATION AND ADDITIONAL INFORMATION.

 


 

 

 

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