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Making Cents: Charity Begins at Home --as Do Deductions

August 18, 1996

Garage sales may be fun, but tax experts say some folks might be better off donating their castoffs. For example, an item that is legitimately worth $15 at thrift stores would be worth $5 as a deduction to many taxpayers--so letting it go for $1 at the end of a long day doesn't make sense. Thrift shops make it easy to donate. Goodwill Industries had revenue totaling $500 million last year from items resold to the public.

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