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Is it more benefit to have a garage sale or take a tax deduction?

  1. Victoria Lynn profile image90
    Victoria Lynnposted 6 years ago

    Is it more benefit to have a garage sale or take a tax deduction?

    I've wondered this. In the past, when in need of cash, I've held garage/yard sales, but donating and taking a tax deduction always helps at tax time. Which do you think is more beneficial?

  2. A.A. Zavala profile image85
    A.A. Zavalaposted 6 years ago

    You may need to have a garage sale to pay your taxes.  I owe $288, first time in a long time that I've had to pay.  I'm going to contribute to my 401k again, and buy more stocks.  I think if your garage sale items exceed a certain level if makes better sense to take the deduction.  Are you selling a vacuum cleaner?  I need one...

  3. Catzgendron profile image72
    Catzgendronposted 6 years ago

    take the deducation .. less of a hassle.

  4. fpherj48 profile image77
    fpherj48posted 6 years ago

    They're both "beneficial," in terms of giving you cash......the sales generate immediate cash while the deductions come later.  I do both....as in have sales and also make donations throughout the year!!

 
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