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Charitable Deductions

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Clothing contributions - How to calculate

Usually you can use the average (poor, average, perfect condition)fair market value method. Speak to your local CPA. He/She usually has checklist from a recognized IRS charity such as the Salvation Army with recommended non-cash (clothing) contribution deduction amounts. When the value of this donation is more than $500, IRS Form 8283 is required to be filled out.

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