In Giving, We Receive
Donation Values

Did you know that your donation of material goods is tax deductible?

To take the deduction on your taxes for a material donation, please remember to do the things noted below!

Document your Donation
If you contribute property owned for more than one year, the value of the deduction is normally equal to the property's fair market value. You have an advantage when you contribute appreciated property because you get a deduction for the full fair market value of the property. You are not taxed on any of the appreciation, so, in effect, you receive a deduction for an amount that you never reported as income.

You should clearly contribute, rather than throw out, old clothes, furniture and equipment that you no longer use. However, bear in mind the condition of your donated goods. The IRS only permits deductions for donations of clothing and household items that are in "good condition or better."

It is up to the tax payer to assign the value of donated items.