Basically I'm selling my house at the end of November, and in the cellar I have an expensive home theater, which I bought from the previous home owner. Collectively it was around $30,000, which includes chairs and the projector. I have receipts from when the previous owner bought everything (so the receipts would be in his name). I basically bought things from him when I bought the house, but didn't necessarily get a receipt for it. Can I donate this stuff to a registered charity such as Goodwill and use it as a write off for next year's taxes?

ANSWER

The BIDaWIZ Team's Answer:

Do you have a written document such as the purchase agreement that details the amount that you paid for the house including the property in the cellar and the estimated value of the property you plan to donate? Please note that if you plan to donate over $500 in property during the year, you would need to complete IRS Form 8283. So, yes technically you can donate property and claim a deduction, but the amount depends upon the value and the documentation that you have to support the claim.