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Author: Selphiras Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 37051  
Subject: Re: decluttering by donating clothes? Date: 10/13/2000 3:40 PM
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There is a book published out there that gives the fiar prices of donateable items...I can't recall the title or author. You might try some web searches.

In any regard, the fia r price you should place is what you could honestly sell it for.

A bunch of older clothes--rummage sale prices (25-100 cents). Newer office clothes--might be resalable at a store for $5+. Books--25 cents for paperbacks, maybe $10-$20 for newer textbooks. Washing machine--check with a used furniture/applicance store, or where you donate it. Larger items like this they may be willing to quote an amount for you. One way to figure it is "What would I be willing to pay at a garage sale for this item?" (Not, what would I want to sell this for at a garage sale, because that tends to inflate it!)

Personally, I think it's best to err on the side of caution. it might reduce what you could actually take as a deduction but that's better than and IRS audit.

Note that, if you don't already itemized deductions, it is not likely that donating items for the tax deduction will be worth it. You can only take the deduction if you itemize!

Selphiras
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