{"id":281,"date":"2019-08-18T08:42:28","date_gmt":"2019-08-18T15:42:28","guid":{"rendered":"https:\/\/redhotlocalmarketing.com\/gayle\/?p=281"},"modified":"2019-07-17T09:04:49","modified_gmt":"2019-07-17T16:04:49","slug":"charitable-donations-of-property-did-you-know","status":"publish","type":"post","link":"https:\/\/reddingbookkeeping.com\/charitable-donations-of-property-did-you-know\/","title":{"rendered":"Charitable Donations of Property \u2013 Did You Know?"},"content":{"rendered":"<p>If you choose to itemize, donating furniture, vehicles, or other property to IRS-approved charitable organizations allows you to improve the lives of others while reducing clutter in your own, all while gaining a valuable tax deduction. In many cases, the allowed deduction is equal to the fair market value of the property you donate. However, for property that appreciates in value, such as artwork or musical instruments, specia<span class=\"text_exposed_show\">l rules govern the allowable deduction amount.<\/span><\/p>\n<div class=\"text_exposed_show\">\n<p>The size of your deduction may also be affected by your adjusted gross income (AGI) and whether you made monetary charitable donations during the same tax year. Deductions of $250 or more require a written acknowledgement from the receiving organization, and those of over $500 require additional documentation. Any deduction for a donation of property valued at over $5,000 requires a certified appraisal.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>If you choose to itemize, donating furniture, vehicles, or other property to IRS-approved charitable organizations allows you to improve the lives of others while reducing clutter in your own, all while gaining a valuable tax deduction. In many cases, the allowed deduction is equal to the fair market value of the property you donate. However, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Charitable Donations of Property \u2013 Did You Know? - Gayle&#039;s Full Service Tax and Bookkeeping<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/reddingbookkeeping.com\/charitable-donations-of-property-did-you-know\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Charitable Donations of Property \u2013 Did You Know? - Gayle&#039;s Full Service Tax and Bookkeeping\" \/>\n<meta property=\"og:description\" content=\"If you choose to itemize, donating furniture, vehicles, or other property to IRS-approved charitable organizations allows you to improve the lives of others while reducing clutter in your own, all while gaining a valuable tax deduction. In many cases, the allowed deduction is equal to the fair market value of the property you donate. 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