How Much Can You Deduct?
When you donate to a 501(c)(3) nonprofit like OnlyFuego, you deduct the fair market value, meaning what someone would pay for it used:
- Designer dresses: $500-$2,500 per dress
- Luxury handbags: $500-$10,000+ per bag
- Fine jewelry: $1,000-$20,000+ per piece
- Designer suits: $300-$1,500 per suit
What Qualifies for Deduction?
Items must be in "good used condition or better":
✅ Full Deduction
- Gently worn designer
- Like-new condition
- Vintage in good shape
- Minor wear OK
❌ Limited/No Deduction
- Heavily worn/damaged
- Stains or odors
- Broken hardware
- Counterfeit items
Donation Value Guide
Fair market value is typically 20-50% of original retail:
Example: $5,000 donation → $1,200-$1,850 tax savings (24-37% bracket)
How to Maximize Your Deduction
Donate by December 31
To claim on 2026 taxes, donations must be completed by Dec 31.
Get a Qualified Appraisal (if needed)
For donations over $5,000, the IRS requires an independent qualified appraisal from a credentialed appraiser. We can refer you to specialists.
Keep Original Receipts
Not required, but helps establish cost basis.
Donate in Good Condition
Better condition = higher fair market value.
Donate to Qualified 501(c)(3)
OnlyFuego is a registered 501(c)(3) organization.
IRS Requirements by Amount
Under $250
SIMPLEReceipt from nonprofit (we provide)
$250-$500
EASYWritten acknowledgment (we provide)
$500-$5,000
MODERATEForm 8283 Section A. Donor determines fair market value (our value guides help).
Over $5,000
DETAILEDForm 8283 Section B + independent qualified appraisal (from a credentialed appraiser, not the charity)