Q: This inquiry comes from Ann. She asks: I frequently shop at my local thrift store, where the sales support a charity. Am I able to write off these purchases as charitable donations?
“Because you receive items of equivalent value for your payment, this is classified as a retail transaction, not a donation,” an expert explains. “For a deduction on charitable contributions, you must make a genuine gift of money or property to a recognized organization and itemize those deductions on your federal tax return.”
