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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.

Vehicle Donations:

  •  If the claimed value of a donated motor vehicle, boat, or RV exceeds $500, and the item is resold by the charitable organization, the taxpayer is limited to the gross proceeds from the sale.  Goodwill is happy to provide you with the sale price of your vehicle for tax filing purposes.
  • If your vehicle is not re-sold, but instead entered into our Four Wheels For Work program, you may be able to deduct the Kelly Blue Book value of your vehicle.
  • Take several photographs of the vehicle before donating to document the car's condition. We will also have you sign an odometer disclosure statement that can help verify the vehicle's condition. Keep the photographs, your Goodwill donation receipt and your vehicle's maintenance records for several years following the donation.

 

 

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