Skip the hassles of trying to sell your furniture, equipment, jewelry, antiques, and old collections in a garage sale that often takes more time and work than is worth the income you may get from it. Instead, donate it and take the tax deduction. Garage sales take time and effort and maneuvering large furniture or equipment can be more trouble than its worth. Antiques, jewelry, and collectibles may not sell for their true value.
If you donate it through idonate.com, you can specify your favorite charity or non-profit you would like the proceeds to go to. idonate.com has resources to liquidate your item at the best price to benefit your charity. By itemizing and donating it, you can take the Fair Market Value as a tax deduction.
There are three main things donors do wrong when they donate non-cash items. The first is itemizing incorrectly. If you are donating a set of collectibles or jewelry, make sure you take careful inventory of every item. Second, make sure you note the market value of each item. This price should be equal to what the charity will sell the item. Finally, make sure you obtain a receipt. Don't make these mistakes when donating a non-cash item!