Determining Fair Market Value for Donations

How do I value clothing items I've donated throughout the year? I took pictures of each item for our records, but now I need to put a value to each item.

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By Candace from Scottsdale, AZ

Answers:

Determining Fair Market Value for Donations

Read the Archives at the bottom of this page entitled:
Request: Determining Fair market Value for Donations (12/02/2009)

By MCW

Determining Fair Market Value for Donations

To my knowledge you do not get to determine the value of the items, the place you take them to does.
Our non-profit is only allowed to give a receipt for the amount we will make off of it. Example: your 30.00 shirt resales here for 2.00 and that 2.00 is all the more write off we can give. (12/03/2009)

By Dedeswrkshop

Determining Fair Market Value for Donations

Here's what I do: go to Honesty.com, and search for the item that you're donating. This site has a tool that lets you see what the going market rate is for the item, on auction websites. This is a great baseline to work from, because online auctions are the only national, "true" supply and demand market. If the price is too high, no one buys. You get a clear picture of what the market will bear, on used items. Good luck, and good for you, for donating. (12/05/2009)

By leopardstripes

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