Determining Fair Market Value for your Donation
The IRS offers two publications that give guidance for the fair market value of used household goods: Publication 561 (Determining the Value of Donated Property) and Publication 526 (Charitable Contributions). If your donation is valued over $500 you’ll need to attach form 8283 to your tax return.
Other sales venues such as eBay, consignment, or thrift stores can also give you an idea of the fair market value of your donation. Since tax laws change yearly, we suggest you consult a tax preparation professional to ensure that you can get the correct deduction.