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To: Repeal The 17th

Go to a Thrift Store and see what they charge for used items. I paid $5 for a $100 pair of Miss Me jeans. I paid $6 for a pair of tennis shoes worth $125 new.

I was told the same thing by a CPA who prepared my taxes. Padding donations is, IMO, an At Risk deal. If you ever have to prove a deduction that is ridiculous.


17 posted on 10/04/2018 7:41:22 AM PDT by ExTexasRedhead
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To: ExTexasRedhead

I’ve used eBay to see what things are selling for.


20 posted on 10/04/2018 7:45:58 AM PDT by IamConservative (I was nervous like the third chimp in line for the Ark after rain had started falling.)
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To: ExTexasRedhead

Ok, Ok...... here’s the reasoning

For an average donation of clothing the IRS guy advised the 25% was a good approximation for fair market value

I would think for the donation to be valid, Princess Gray Beaver is required to provide a receipt from the agency receiving the donation


23 posted on 10/04/2018 7:53:33 AM PDT by bert ((KE. N.P. N.C. +12) Muller..... conspiracy to over throw the government)
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To: ExTexasRedhead

I use a program that provides the “value” for most things, based on my assessment. I generally just pick the worst assessment, so I feel pretty safe in my donation valuations.

Remember when Bill Clinton was taking tax deductions for his used underwear?


40 posted on 10/04/2018 9:14:23 AM PDT by CharlesWayneCT
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