How do I classify a donation of classroom supplies and classroom books? Which category is best? Started by using "Business equipment" but that doesn't seem quite right.
How do I classify a donation of classroom supplies and classroom books? Which category is best? Started by using "Business equipment" but that doesn't seem quite right.
If you are no longer an educator, then this would not fall under the education expenses. As mentioned above, you can use the value as a donation to charity if you itemize your return.
Itemized expenses include mortgage interest, gambling losses up to winnings, charitable contributions, state and local taxes up to $10,000, medical expenses in excess of 7.5% of your AGI and casualty and losses in excess of 10% of you AGI with the first $100 not counting towards the loss.
Then your total itemized expenses would need to be greater than your standard deduction below in order to benefit from your expenses.