Sunday, February 14, 2010

Tax writeoffs


I'm working on my 2009 tax return right now. This is maddening. Thank gawd for prep software. I'm fully aware that not everyone's situation requires software (e.g. anyone who files 1040EZ, anyone who has a complicated financial picture, etc.) - but for most folks, tax prep software is the way to go.

Part of the software I'm using (I won't mention it by name unless the company wants to spot me a few $$$ for endorsing it) has a built in module that allows you to find the value of donated items (e.g. clothing, household items, etc.). My wife and I donated a lot of clothing to a local charity last year and I created an inventory list of the donations before handing over the items to the charity. The tricky thing is I need to reconcile my items (inventory list) to the items described in the donation module in the tax prep software. Example: my wife donated something called a "long sleeve V neck knit dress." That description is not included in the donations module in the software - so I might categorize it as "Women's All Occasion Dress: Sundress." Or maybe as something else that sounds close.

So I get to trying to match up my donations to the software's list of items. Under "Men's Clothing," there is a category for "Men's Swimwear." I think to myself, "Hmm, that's straightforward." But, no, it's broken down further. There is "Men's Swimwear: Trunks" and .... yes .... there is "Men's Swimwear: Bikini."

This is wrong on so many levels, I don't know where to begin. I mean, why was the MEN'S bikini purchased in the first place? How about the look on the face of the person who works at the local charity and is unloading the donated items on the loading dock? "OK, here's a vacuum cleaner - looks like we can get $40 for this ... and here's a woman's belt. Nice - we should get $5 for this one. What's this? A bikini bottom ... hmmm ... where's the top? oh .... crap."