Charitable contribution values

Charitable contribution values vary according to the type of charitable contribution.

Charitable contribution value of used items

If you are donating used clothes, furniture, or household appliances, you must deduct their fair market value. The fair market values (thus charitable contribution values) of used items are much less than your original cost. Prices paid in thrift shops for similar items are an indication of fair market value.

Records and proofs of charitable contribution values

For your records, get a statement from the donee organization acknowledging the gift and describing the property . Also keep a record of your original cost. If the claimed value for your donation exceeds $500 you must completed Form 8283.

Receipts showing charitable contribution values

For each individual charitable contribution with a claimed value of $250 or more, you must get a receipt.