What Is the Donation Value of Kitchen Cabinets?
After spending months and months inside, many homeowners are opting to renovate at least one area of their homes. One of the most popular renovations occurring is in the kitchen. Many people don’t realize that many components of a kitchen can be deconstructed and donated to non-profit organizations, providing the homeowner with a significant tax deduction to expand their overall renovation budget.
How to Donate Your Kitchen Cabinets
The first step is to contact the team at Green Donation Consultants. We can coordinate the deconstruction process, complete a qualified appraisal, and walk you through the tax deduction process. After your call, we will send an appraiser to your property to provide you with an obligation-free assessment. If you decide to move forward, we will connect you with a local non-profit organization that can coordinate the green demolition of your kitchen.
What Condition Should My Cabinets Be In?
The condition in which the charity will accept will vary. Some charitable organizations require good condition while others only require that they are in “good working order.” Before you begin, you can talk with the non-profits you are choosing to see who is a good fit.
How to Calculate the Donation Value of Kitchen Cabinets
Calculating the value can be a bit more complicated and highly depends on the type of wood, the cabinets’ condition, and the overall style. A qualified personal property appraiser can dive into the market to determine your cabinets’ fair market value. Fair market value is less than the original purchase price of the cabinets but is calculated based on what people would pay for the cabinets today in their current condition.
How to Claim the Donation on My Taxes
If you donate more than $5,000 worth of material, you will need a qualified appraisal completed by a qualified personal property appraiser. You would then attach this appraisal to specific IRS documents along with your taxes. While Green Donation Consultants are not tax professionals, we can help you navigate the entire process from start to finish.
Are you renovating your kitchen and trying to determine the donation value of kitchen cabinets? Contact the team at Green Donation Consultants at 800-870-3965 to get started today!