Here’s a useful tool for those of you who itemize your taxes and donated household goods to charity last year. The fine folks over at SlickDeals found a link to a download of H&R Block’s DeductionPro 2007 software that is free of charge. Just click on the link below and you’ll have the software in no time.

DeductionPro 2007 Software Download

I have used DeductionPro for the last several years since I got it free after rebate in a TaxCut software bundle. The software is still sold as a stand-alone product, however it is also included in the premium versions of TaxCut for 2007. It is a great tool for tracking donations and provides suggested values for many common items. It will also generate the necessary forms for your return and export the data to TaxCut for your return preparation. My only complaint about the software would be that I would like to see more items listed, but I’m basing my opinion on the 2006 version, so that may have improved with this version.

I would caution anyone would itemizes household good donations to use one of these types of programs instead of just trying to guess the value of the item. If we try to guess we often fall on the low side (I guess most of us think about what would the item fetch at a garage sale and not its true market value), so these types of programs help to make sure we get the full deduction we deserve.

Good luck!

This entry was posted on January 15, 2008 at 12:47 pm. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Posted in Charity Freebies Taxes by BillyOceansEleven No Comments Yet