Ways to Make Money From Unwanted Holiday Gifts
Twin Falls, Idaho (KMVT-TV) In a Consumer Reports poll, 49 million Americans admit to getting stuck with an awful holiday gift.
11% of people polled admit to throwing their unwanted presents in the trash, but there are some alternatives.
We've all got it…especially during the holiday season...an unwanted gift.
But, before you toss it here are a few money making or saving options.
First, donate it to charity.
"We will write you a receipt that says you donated this item, you consult with your accountant to see what the value of that item is and then you get to declare it on your income tax," said Nicki Kroese, Business Manager, Salvation Army.
According to Consumer Reports about 20% of adults end up with unwanted holiday gifts. About 15% of those gifts end up here at charitable organizations like the Salvation Army.
"The gift baskets with cocoa and a new coffee mug, or the lotion, perfume, shower soap, those sorts of personal items are very common to see here. Brand new, still in the package,” said Kroese.
Aside from the tax benefits, you can feel good in knowing the money made will be used for a good cause.
"Those things turn into cash, which helps us pay for all the hot lunches, thousands of hot lunches every year and emergency food boxes," said Kroese.
But, for those big ticket items, such as furniture, there's a more profitable option ... consignment.
"We have people who have brought stuff into us that you know really didn't match their décor, things like that,” said Lin Gowan, Owner, Apricot Home.
Apricot Home in downtown Twin Falls will give you 60% of the selling price on furniture and 50% on knick knacks.
"We do all the advertising for them, we put the furniture online to sell it for them, get good exposure and basically get them the best price possible," said Gowan.
A hassle free way to unload those unwanted gifts.
For gifts you can't donate, such as gift cards, there are several online sites that allow you to sell your card for cash or trade it for another gift card.
Some popular ones include cardcash.com and giftcards.com.