DID YOU KNOW?

According to the IRS, for donations made after August 17, 2006, clothing and household goods given to charity must be in “good condition or better” in order to take a valid tax deduction. Note: the IRS does not define “good condition”.

A limited exception to the IRS ruling allows you to deduct a single item in “less than good condition” if the item is appraised at more than $500. It’s interesting to note that in 2003 clothing represented 48% of tax deductions from donations.