Anyone ever donate cards to salvation army and get a tax receipt?

Rogermnj

I wanted to donate 100k cards, will they take them and will i get credit for them on my tax return?

any help is greatly appreciated

mikeschmidt

probably more than they can handle -- I'd call them directly and ask them about it. 100k is a lot of cards.

I've donated in the past -- never in that quantity, and never asked for a tax receipt.

Rogermnj

Ive donated before also, and never asked for a tax receipt but this year i am getting burried in taxes and need some writeoffs badly.

pclpads

The bigger question from the IRS standpoint is valuation. The donation chuckers emptying your trunk at SA or GW won't be able to help you. You'll need to ascertain a value that - God forbid! - doesn't raise eyebrows when IRS reviews your tax filing or leads to an audit. I'd say anything you put down over a grand may catch their attention. Especially if this is the first time you've ever made a like donation. Make take some work on your part, but you'll need to document what you are basing your value on. No BS. If they call you on it, you need to support it. Don't expect any help from the pencil-pushers at IRS. This will be on you to document and support. Shoot some video, scans, past sales data similar to what you are donating. Good Luck!

swartz1

If I am correct - there is a max. value they will give you with a receipt on a given day... maybe like $200 ?

CrazyMind2017

Never donated cards, but when I've donated to Good Will, they provide a blank receipt where you fill out a list with a description of each item donated. You cannot write prices or values of the items on this receipt. They will validate it (as long as you don't write any dollar amounts) and you go on your way. When you claim the deduction, the receipt serves as proof that you donated the items and that Good Will received them. If the IRS wants you to document value, you're on your own. You may have some help if you pay a professional to prepare your taxes, like at H&R Block.

How much are you planning to declare? If you claim a penny a card, that's a $1000 deduction, and I would think relatively safe. What you can do to cover your ass a little is on the receipt that you fill out documenting the items donated, you should clearly specify some of the better cards that are part of the lot. That will drive up the perceived value, and you can probably claim that each card has an average value of 1.2 or 1.5 cents.

If 100,000 cards is too much, you can break it up and donate to several different SA/GW locations, as well as any other 501(c)3 organization that will take crap.

storm888

Anybody tried these guys?

I have not, but they have a toll-free number and you can
prolly pick their brains on what values are generally reasonable
to assign to donated cards. That info might be helpful when you
donate to a local outfit.


donate sports collectibles



For large money donations, it is nice to have a good and verifiable appraisal
of the donated items.

I would prefer attaching a good appraisal to the receipt issued by the recipient,
because the Service knows that such receipts are usually issued blank and
filled in by the taxpayer.

If the value you assign is more than a few-hundred bucks, it would be comforting
to have a good appraisal for backup.


..........


There are lots of outfits that are looking for donations of collectibles.
Some are prolly reputable, some are prolly not.

a google list

5714Ks

Storm,
Doesn't the donation to the SA have to be appraised?

larryallen73

I used to drop cards off at Goodwill and/or Salvation Army all the time. They really don't want them so you have to drop them, grab a receipt and run! They give you a blank receipt and you write a detailed list of what you donated when you get home. I believe you can write off up to $5,000 a year of collectibles without appraisal but you should double check that. Don't call ahead you will waste your time.

Bosox1976

I'd spread 'em around and grab a bunch of receipts. I've done it a few times and used half a cent per card (i.e $25 for a 5k box) with clear conscience. At a penny or more you may want to detail what was in the box on your receipt.

larryallen73

The real question is has anybody ever been audited and what did the IRS say on audit? My hunch is this is small potatoes stuff and the IRS is not too likely to care unless you right off a ton of cards every year.

jeffcbay

You might be better off listing them on Craigslist for $20-$30 per 5k box.

DeutscherGeist

I am glad someone asked this question. I donate a lot of items and I am getting to be more knowledgeable everytime.

First, decide what you want to donate. Make a detailed list of what you are donating, but do small bundles at a time. Like if you have a bunch of shoes and clothing, just donate the clothing and the shoes on a later date. Take a picture of what you are donating and make sure each item matches up on that detailed list you have. Drive down to GW or SA. If you have 3 bags of clothing, tell them to write that down on the receipt. Keep it simple. They cannot itemize on the receipt, that's why you have the photo and detailed list.

Staple the GW receipt, detailed list and printed photo together. Now comes the tricky part. To write anything off, you need a basis for valuation. A CPA or tax consultant can help you on that since you already have the detailed information they need to assess all this properly. My CPA gave me a list of values that he uses to write stuff off for his clients. For example, a suit ranges anywhere from $20-$100. He said if its a no brand suit, he usually say to appraise lower (towards the $20) and if its a suit from Nordstrom, then up to $100 is OK. You can write $25 for that low end suit. This is not an exact science, but the key here is to be reasonable.

Now with your cards, do not donate all 100K at once. I think $250 is a magic number for most items (again, this is where a CPA is needed). By magic number, I mean whether you need more solid documentation or follow special rules. I am not saying donating 100K cards at once is not possible, I just do not know all the rules.

Have your first donation be, for example: Baseball cards 1977-2006 Topps, Fleer, Upper Deck brands. 25K. Take a representative photo of the stash. On the Goodwill receipt, have the guys put down 25K baseball cards under OTHER. They cannot be more detailed, that is why on the back of the picture you took, you can write the date of donation and simply state 25K cards, 1977-2006 Topps, Fleer, Upper Deck brands. This is good documentation. It will help your tax advisor figure things out too.

Now, if you know a card shop owner, or a dealer with a license, ask if he can write a letter of appraisal for 25K cards, unspecified players, various brands. He would give a range of 1 cent to 2.5 cent (the Upper Decks are nicer quality). All you would take off from your tax forms would be the more conservative 1 cent per card. You can do 1.25 cents too because this is not an exact science and you should only be expected to be reasonable. With a letter of appraisal from a dealer, that is very solid. Plus, do not really take the top appraisal--you want to show that you are reasonable and conservative unless you know the laws exactly, then by all means, maximize. I am just writing out some guidelines here to start off with and to be on the safe side. It is not unreasonable to expect a $1000 write off if you followed my steps. You can write off more if you have a dealer backing you. On the letter, make sure the cards are described like I have written above. The dealer name, lic. #, address and phone number should be on the stationary. He must sign it.

Think of it this way, if you walk into a card shop and you need a 1989 Upper Deck common to finish your set, the dealer is going to charge you a nickel, a quarter or 15 cents. They do not give away cards. All you are doing is claiming a cent or a bit more.

MULLINS5

What if you donate your Honus Wagner that you got such a good deal on on Craigslist, but it is worth $500,000.00?

royalbrett

Just my opinion, but I think it is pretty chincy to "donate" worthless cards to a place like GW or SA and want a tax break. You are paying a lot in taxes because you had a lot in income.
Plus you are creating extra work for organizations whose main purpose is to assist those with low incomes with low cost items.

Rogermnj

<< <i>Just my opinion, but I think it is pretty chincy to "donate" worthless cards to a place like GW or SA and want a tax break. You are paying a lot in taxes because you had a lot in income.
Plus you are creating extra work for organizations whose main purpose is to assist those with low incomes with low cost items. >>



where did i say the cards were worthless. half of it is unopened wax boxes and sets.

swartz1

"worthless cards" - ouch...


awfully presumptuous...

royalbrett

If they have value, why are you giving them away? The proceeds could help you out with your tax bill.