Expert Reviewed
You must have an inventory of the items you donated, with sufficient detail to determine the fair market value (i.e. what it was, what condition it was in -- good, fair or poor -- and approximately how much you originally paid). You must also have a receipt from the charity documenting the donation, although it does not have to be specific if you have your own separate inventory.
Determine the fair market value for each item and add it up. Fair market value is what an honest buyer would pay an honest seller for the same or similar items in the same condition. You might use the prices that Goodwill charges in their store for similar items.
In Turbotax, you can enter an Item donation using the instructions from the other expert. You do not have to list every item individually, you can list them as a group ("used clothing" for example) and give your aggregate value.
However, if your total claimed value for any single item or group of similar items is more than $5000, you can't claim a deduction unless you have an appraisal signed by a qualified appraiser, and you need a copy of form 8283 signed by the appraiser and an official from the charity, that you must mail to the IRS.
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