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December 4, 2004 08:24 AM

Noncash Gifts To Charities Can Be Deducted


Excerpt: Donating new and used items to charity can be beneficial for your taxes as well as helpful for people in need. But before you donate, remember these simple tips.


Containers for charitable contributions are everywhere during the holiday season: Buckets for bell ringers on the sidewalk, boxes for toys in the workplace and baskets for food donations at the supermarket.

Donating new and used items to charity can be beneficial for your taxes as well as helpful for people in need. But before you donate, remember these simple tips:

- Give wisely. Your total charitable donations, including cash and noncash items, are limited to 50 percent of your adjusted gross income. Deductions are valid only for gifts to a recognized charity, meaning it has IRS approval to register as a tax-exempt organization. Before you donate, check out the charity at www.charitynavigator.com. See the site.
- Groups only. You also cannot deduct items given to an individual, no matter how needy that person may be. For example, if a family in your hometown loses everything in a fire, a donation to that family through a local charity that is giving them aid, such as a local branch of the Red Cross, is deductible. But giving the family clothes and other items directly is not. However, you should ask the local charity how it will distribute your donation. It may go to one family, or be distributed among many.

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