[cjmac]

If I am the owner of a Trift Store and I donate my excess clothing, shoe's. etc. to a Mission that has 501c3 status, am I intitled to any tax deductions on my donation?

[Fr_Chuck]

How is your store owned, since it is owned by the store, if you file separate taxes for the store, the store should be able to take the deductions.

[cjmac]

How is your store owned, since it is owned by the store, if you file seperate taxes for the store, the store should be able to take the deductions.

I am the mission that excepts these items and was wondering about the tax advantages of Thrift store owner that may be part of a non profit organization or an individual that owns the store for profit. Are the tax benefits the same. We pick up from both types of buisness's. I want this to be mutualy benefitial for both parties if possible.

[MukatA]

You are a sole proprietor. On your schedule C (Form 1040), you can't deduct Charitable contributions. You can deduct charitable contributions only if you itemize your deductions.

[AtlantaTaxExpert]

Partnerships and Sub-Chapter S corporations CAN make charitable donations, and the donations are then passed through to the partners/shareholders via Schedule K-1.

However, MukatA is correct about the sole proprietor having to itemize to claim the donation as a deduction.