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Author: Bob78164 Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121598  
Subject: Donating inherited property Date: 2/9/2009 1:24 AM
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My late mother-in-law had clothes, scooters, and other personal items that (I am informed) easily qualify as being in at least "good used" condition. My wife and her sister, the only beneficiaries of her estate, are tentatively planning to donate some of this property to charity.

Are my wife and her sister entitled to charitable deductions for the fair market value of the property donated? What documentation, if any, is either necessary or advisable? Is there anything else we should know?

Thanks in advance. --Bob
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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104382 of 121598
Subject: Re: Donating inherited property Date: 2/9/2009 6:38 AM
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My late mother-in-law had clothes, scooters, and other personal items that (I am informed) easily qualify as being in at least "good used" condition. My wife and her sister, the only beneficiaries of her estate, are tentatively planning to donate some of this property to charity.

Are my wife and her sister entitled to charitable deductions for the fair market value of the property donated?


Yes. See Publication 526 for the documentation requirements. I always make a list of the items since the receiving charities don't provide one except for large items.

Phil

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