Taxpayer asks: I would like some help to finding a web site that could help me find amount that your can use for charitable items such as clothes and household items. We sold our house this year and really down sized to what we are taking. For example I gave 42 shirts to a nonprofit thrift shop
Taxgirl says: Try this as a guide:
http://childrens-home.org/valuationguide.htm
Otherwise, the rule of thumb is to value the item at what a willing buyer would pay (a willing buyer would not pay $25 for your used Gap jeans, they’d likely pay $5 - if they’re in good condition).
You should note that this information is for household items; special rules apply to appreciated goods like stock or jewelry, or hard to value items such as artwork.
Like any good lawyer, I need to add a disclaimer: Unfortunately, it is impossible to give comprehensive tax advice over the internet, no matter how well researched or written. Before relying
on any information given on this site, contact a tax professional to discuss your particular situation.
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I would like to invite you to use our website as a resource to determine fair market values. We have an license agreement with eBay for completed successful auction data and our website is competitive with It’sDeductible except you don’t need TurboTax and you can print reports to give to your tax professional. Please contact me with any questions. Thanks.