How Much Can You Deduct?
When you donate to a 501(c)(3) nonprofit like OnlyFuego, you deduct the fair market value—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:
Evening Gowns
Valentino, Oscar de la Renta
$2K-$6K orig
$600-$3K deduction
Luxury Handbags
Chanel, Hermès, LV
$2K-$10K orig
$800-$8K deduction
Fine Jewelry
Diamond, precious stones
$1K-$50K orig
$800-$40K deduction
Example: $5,000 donation → $1,200-$1,850 tax savings (24-37% bracket)
How to Maximize Your Deduction
1.
Donate by December 31
To claim on 2025 taxes, donations must be completed by Dec 31.
2.
Get Professional Appraisals
Required for donations over $5,000. We provide certified appraisals.
3.
Keep Original Receipts
Not required, but helps establish cost basis.
4.
Donate in Good Condition
Better condition = higher appraisal value.
5.
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 + our appraisal
Over $5,000
DETAILEDForm 8283 + qualified appraisal (we provide)