|Charitable Donations Fair Market Values|
|With tax season here, I made a trip to Goodwill to figure out the|
|FeedbackBy Preston Hunt, 22 February 2003|
This year, I made several trips down to Goodwill with a carful of donations. If you itemize your taxes, the IRS lets you deduct the fair market value of any non-cash donations that you make to charity, but of course they give you no guidance on how much you can deduct. They suggest that you go to a thrift store and compare prices on items similar to those that you donated, so I did just that. These are my findings. All of this stuff is used unless otherwise noted.
Bed sheets $2.99/each piece Big plate $0.99 Cheap backpack $2.99 Collared short-sleeve shirts $4 Computer software $4.99-12.99 Denim skirt $6-8 Dress shoes $5 Drinking glasses $0.50 Fax machine $24.99 Hardback books $2.99-4.99 Jeans $7.99 Khakis $7.99 Leather briefcase $9.99 Paperback books $1.99 Pillows $3.00 Pillowcase $0.50 Shorts $3.99-5.99 Shorts $3.99-5.99 Shot glasses $0.99 Silverware $0.49/each Ski poles $2.99 Small plate $0.49 Sneakers $2.99 Stereo receiver $59.99 Sweater $1.19 T-shirts $2.99 (!) Textbooks $4.99-14.99 Toy metal car $0.99 Trench coat $8.99 Women's blouse $5.99 Wooden chair $19.99blog comments powered by Disqus