Gregory L Buhrow
Certified Public Accountant
A PROFESSIONAL CORPORATION
Non-Cash Donations - Valuation Guidelines
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Contrary to what others say on the web and elsewhere, you don’t need to purchase their property valuation guide each year in order to substantiate your non-cash charitable contributions. Those “others” are trying to scare you into buying their book every year for $25 or more. The IRS is not in the “valuation of used goods” business.
It is your responsibility to value your donated goods as reasonably as possible. So, with that said, how do you establish a value on used goods?
The typical used goods value is termed "thrift shop value" or the price your item would sell for at a thrift shop, ie, Goodwill , Salvation Army Thrift Stores or other thrift shops.
I have researched the Internet and, with the help of my wonderful wife, canvassed local (Dallas-Garland-Rowlett, TX) thrift shops to determine some valuation ranges for a number of items. Shown below are the results of those efforts:
Categories
Download a Non-Cash Charitable Contribution template to help you value your contributions and assist in preparing Form 8283
Non-Cash Charitable Contribution template
Appliances
Clothing - Children
Clothing - Men
Clothing - Women
Electronics
Furniture
Household - Dry Goods
Sporting Goods
Use of Valuation Guidelines
As previously stated, these represent a compilation of valuation ranges suggested by various Internet sources as well as thrift shop values in the Dallas area. Your locale may be different. Use them as a guideline and at your own risk!
Should IRS challenge or deny a claim based on your use of these guidelines, we assume no liability and deny any responsibility with regard to your tax return.
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