Clothing, household goods or other donated items must be in good used condition to qualify for the deduction.
What does GUC stand for?
GUC stands for Good Used Condition
This definition appears somewhat frequently and is found in the following Acronym Finder categories:
- Slang/chat, popular culture
- Business, finance, etc.
See other definitions of GUC
We have 33 other meanings of GUC in our Acronym Attic
- Greater Utah BSD (Berkeley Standard Distribution) Users Group (est. 2000)
- Gallant Unit Citation (US DoD)
- General Unsecured Creditor
- General User (Training) Course
- Generator Unit Controller
- Geraldton Universities Centre (Australia)
- German University in Cairo (Egypt)
- Global Unichip Corp.
- Globus-URL (Uniform Resource Locator)-Copy
- God's Unwanted Children
- Good User Certificate (European Software Institute)
- Greenleaves Utility Company, Inc (Mandeville, LA)
- Greenville Utilities Company (Greenville, NC)
- Growing Up Creepie (TV series)
- Gunnison, CO, USA - Gunnison County Airport (Airport Code)
- Gwinnett University Center (Georgia Perimeter College - Lawrenceville, Georgia)
- Genitourinary Cancer(s)
- Georgia Utility Contractors Association (Forest Park, GA)
- Global University for Central America
- Ground Umbilical Carrier Assembly (space shuttle)
Samples in periodicals archive:
A deduction for clothing and household goods will only be allowed if the property is at least in good used condition.
If the item is in good used condition or better and a deduction of more than $500 is claimed, the qualified appraisal is not required (unless the value is more than $5,000), but Form 8283 must be filed.
Donations of any household items or clothing made after August 17, 2006, won't qualify for a deduction unless the items are "in good used condition or better" or the donation includes a deduction for a single item with an appraised valuation of more than $500.
New Law: No deduction is allowed for a charitable donation of clothing or household items unless they are in good used condition or better.
Charitable Donations - Contributions of clothing or household items made after August 17, 2006, are generally not deductible unless the item is in good used condition or better.