I didn't document all my donations.How do I handle the tax deductibles?
April 17, 2014 10:15 AM Subscribe
I donated four large bags of clothes to a Goodwill. They gave me a general signed receipt that confirms I donated something, but it is not itemized or contain a value on it. Should I just estimate this value when doing my taxes next year? Or will that be problematic?
The man who took my donation estimated it was worth about $400. Since I do not have any proof or documentation of this, I thought I'd just estimate the contents (ex: 40 pants @ $4 each). Can this turn out to be a problem with the IRS later? Would they even audit a nobody like me? I realize now I should have taken photos or something.