How to Estimate the Value of Donated Items for a Tax Return?

Answer If you are donating items to a charitable organization to deduct them on your income taxes, the Internal Revenue Service only allows you to claim the fair market value of those items. Since the IRS... Read More »

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What Items Are Donated for a School Auction?

A school auction is a fundraiser hosted and organized by the school staff, involved parents and other members of the local community. These groups may donate items themselves and also solicit donat... Read More »

How to Find Values for Items Donated to Charities?

Are you donating used clothing or household items to IRS qualified organizations every year, and not claiming the full fair market value of those items? Since the IRS doesn't provide a way to deter... Read More »

How much can I deduct for items donated to a thrift store?

You can deduct the fair market value of items donated to thrift stores. In some cases, if the value exceeds a particular dollar amount, a qualified appraisal may be necessary to estimate the deduct... Read More »

How do I determine donated property value?

Fair Market ValueDetermine donated property value by first determining its fair market value as of the date of the contribution. Consider the selling price on an open market in a fair deal. Factor ... Read More »