The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: can i deduct this when I itemize? Date:  7/29/2002  10:57 AM
Author:  pills Number:  61033 of 127613

I been donating food items that have been non perisable to the company I work for Christmas in July food drive. I have register receipts for several hundred dollars worth of food donated. I like to go further out and spend because there's a serious need at the food banks and the shelves at the food bank are quite empty. Can I deduct this when itemizing my taxes?

Yes. If your non-cash donations total more than $500, you will also need to file Form 8283 detailing what, when, to whom, how much, and how value was determined. In your case, the value would be easy to come up with -- just add up the register receipts for the food you've donated.
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us