Anyone have a list for how much donations are worth?? Tax ??

[maggiew]

Does anyone have a list for how much different donations are worth? My former neighbor got a list from her tax guy that said how much was reasonable to deduct for donations. Like, shirts were $1, pants $1, etc. I have several receipts from donating clothing and kids stuff to the Salvation Army that has an itemized list of the articles I donated, but I have no idea what to estimate they are worth.

Thanks.

Sincerely,
A last minute tax filer because we always owe a little money

 

[Disneefun]

I know there's some software out there that helps with this -- by the same people who make TaxCut but the exact name escapes me right now. I think the library also has some books on estimating donations value (a librarian could help you more than me).

But here's what I do: we give to the local goodwill and they keep a price list online for what they sell items for in their retail stores. I just get the list and work from there. I don't know if the S. Army does the same thing, but I would think that, if nothing else, you could probably go to the local office and ask for a price list. They probably have it. Or if your local goodwill keeps their list online the two are probably very similar -- it could be a place to start. Just google goodwill for your area to find the local office.

 

[DiznEeyore]

Here's a link to the Salvation Army Valuation Guide:

http://www.satruck.com/ValueGuide.asp

HTH!

 

[maggiew]

Wow! Thanks guys. That's just what I needed. I can't believe the prices on those things. I think I have been undervaluing all these years.

As computer savvy as I like to think I am, I didn't even think about doing a search for Salvation Army. So thanks again.

Maggie

 

[arkansas mom]

It's Deductible software does all the work for you. It offers 3 options for the condition of each individual item you donated (something like fair, good, excellent condition) and based on your answer, it assigns that item a value. Very simple. It really ups your deductions and cuts down your tax bill. For example, whereas I might have underestimated a nice jacket at $2, it might give it a value of $10.

 

[jenr812]

I've used ITs Deductible for two years now and really like it. It makes things very easy. I also started taking pictures each time I bring a donation down (which is quite often).