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 »

Do you have to list all donated items individually on IRS Form 8283?

IRS Form 8283 states that people filling out the tax form can list like items in groups. The IRS also allows a separate, written statement to accompany form 8283 if you need more room to list items... Read More »