Who do I tell that a value is wrong for an item?

5 replies
29 views

Under clothing>women's>shirts, turtlenecks are showing a value of $25, which is way out of range for simple turtlenecks. Quality sweaters are worth more (much more, when they're the likes of LL Bean, Evan Picone), but not according to this list.

ItsDeductible Online

null725Answer

Level 13

ItsDeductible is in a state of flux. It is being redone and is not complete yet. Expect it to change substantially before the IRS and Turbotax will accept 2016 tax returns or filing. The values in ItsDeductible are adjusted several times per year and then when you import the data into your Turbotax return, the most current values are used.

null725Answer

Level 13

SweetieJean

Alumni - Champ

"Quality sweaters are worth more" Keep in mind that the values are generally what the items would sell for at a Thrift or Charity shop, which is likely to be much less than you would expect.

tygrtchr

Level 7

If you have an item for which you think the valuation in Its Deductible is too low or an item that's not listed in ID, you can go to ebay and check the price (sold listings) of identical items. You may use those values (put them in as "add it" items). If I was donating a sweater that has sold for $21 on ebay, in the "item" blank on the add it function, I would put "sweater ebay value." I have used Its Deductible for years and this has never been questioned. ID uses ebay as one of its "standards" of valuation.