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Democratic Primaries

W_HAMILTON

(10,244 posts)

10. Not quite.

Reply to justhanginon (Reply #2)

Sun Dec 8, 2019, 07:42 PM

Dec 2019

The $5,000 is what he stated was the "true value of their worth."

The $50,000 is what he claims he originally paid for them. He is donating used clothes, so, their original purchase price is not what the "true value of their worth" would be after wearing them for however long.

If I were to vote in a presidential
primary today, I would vote for: Joe Biden

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What does this mean? [View all] redqueen Dec 2019 OP

It's good - he spent $50,000 and only used $5,000 for a charitable deduction. Don't know the rest... George II Dec 2019 #1

We donated a truck to PBS with a value of $4000 but could 42bambi Dec 2019 #3

That sounds like he followed the rules in spirit and to the letter Leith Dec 2019 #5

True, if they were new and unworn karynnj Dec 2019 #6

I think it means he only declared a tax deduction justhanginon Dec 2019 #2

Not quite. W_HAMILTON Dec 2019 #10

Sounds like he donated WORN clothing and valued it at $5,000. Interestingly, if he had valued it at Hoyt Dec 2019 #4

Yes it makes the deduction unassailable bucolic_frolic Dec 2019 #7

if you have ever shopped second hand, imagine how many clothes it would take to cost 5 grand questionseverything Dec 2019 #8

He donated his old clothes to a charity and took a $5,000 taxable deduction for it. W_HAMILTON Dec 2019 #9

Thanks all. I'm still not sure what to think redqueen Dec 2019 #11