Charitable deductions for salvation army

If i donated some things worth 2500.00 what is the percentage i would get back from irs.

First, you must be able to document the value of your donated items--remember it's the "fair market value", that is thrift store or garage sale prices, not what you paid for the items. Keep a list of the donated items, description, date and fair market value. Items valued at $250 or more require a written acknowledgement from the charity, including the address and date of donation.

If you're donating a used car, the estimate "Blue Book" value must match the condition of the vehicle. To be safe, it's a good idea to photograph the vehicle and if possible have an appraisal from you mechanic or car dealer.

To claim a charitable deduction, you must itemize. If, for example, you are in the 15% tax bracket, a $2,500 donation would save you $375 in taxes. In the 27% bracket, it would save you $675.

Mary Beth Franklin
Associate Editor
Kiplinger's Personal Finance

Go here. . .

http://www.irs.gov/pub/irs-pdf/f8283.pdf

There are several websites that will give you the fair market value of donated items:

http://www.satruck.org/ValueGuide.asp - Salvation Army Guide
http://www.smbiz.com/sbrl007.html - Small business donation guide
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Are receipts required for charitable donations to be tax deductible?

Pinusconus,

Boy, this is an old thread! But you have asked a very good question.

When we take a deduction on Schedule A, we do need to know how much we gave and to what organization we gave. Not every organization gives a receipt for each dollar or five dollars we give. But we can keep our own records of when, who and how much we did give (ae: Salvation Army Kettle, or what you give your children for Sunday School offering).

When we give a gift of $250 or more the organization is to give us a receipt.
When we donate a car, the organization is to give us a receipt for the value they receive for the car, or if they use the car, then the receipt should indicate the FMV on the date the car was given.

If you are audited, the more information you have to substaniate your donations the more likely the auditor will allow the deduction to stand.