- 1). Get the ring appraised at a licensed jewelry appraisal establishment. You'll need to know how much the ring is worth for tax reasons. Also, jewelry is listed as a "Capital Gain" on income tax forms because the value can increase or decrease over time.
- 2). Contact the organization that you intend to donate the ring to and ask them if they would like a donated ring for auction or sale. If the organization can't sell it, you won't be able to deduct the donation on your taxes.
- 3). Consult a tax professional (this consultation will also be tax deductible) and use the appraisal price to find out how much you can actually deduct.
- 4). Donate the ring to the charity of your choice.
SHARE
