How to Value Donations (Online Guides)
- 1). Make a list of all donations made during the year. Categorize by type; for example, clothing, jewelry, computer equipment, arts.
- 2). Visit the Salvation Army website to find the value of donated items (see Resources). Search for the "value guide." This site has a database of items for sale at its thrift shops. Some of the categories are clothes, furniture and dry goods. A low average price and high average price are listed for each item, which you can use to value your donations.
- 3). Access the Internal Revenue Service at IRS.gov. Browse Publication 561 to value your donations. You will find the fair value for many donated items, including computers, household goods, antiques, jewelry, real estate, cars and boats. The IRS also offers a tax center that can help on valuing donations.
- 4). Visit a local thrift shop and check the value of similar items. The retail prices can serve as a guide, assuming you are comparing items of the same type and condition.
Source...