Sooner_Bob
2/10/2008, 10:50 PM
We donated 4 different times to Goodwill. We donated clothing, furniture and other household items. We got receipts for each donation.
I understand that a donation of anything valued over $500 requires an appraisal. That's for each separate donation correct? That doesn't mean that my grand total fair market value for the four different donations can't be over $500 total right? That just means that I can't value any of the donations above $500 without an appraisal (I won't be doing this anyway, nothing we donated was worth more than $500).
I guess what I'm asking is that if I calculate the fair market value of my four donations to be $125, $150, $150 and $150 for a total of $575 would my deduction be legit?
I understand that a donation of anything valued over $500 requires an appraisal. That's for each separate donation correct? That doesn't mean that my grand total fair market value for the four different donations can't be over $500 total right? That just means that I can't value any of the donations above $500 without an appraisal (I won't be doing this anyway, nothing we donated was worth more than $500).
I guess what I'm asking is that if I calculate the fair market value of my four donations to be $125, $150, $150 and $150 for a total of $575 would my deduction be legit?