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Get your taxes done using TurboTax
It’s important to understand that values from ItsDeductible are not guaranteed to be accepted by the IRS in the event you are audited. You would still have a responsibility to show that the generic nationwide values listed in ItsDeductible correspond to reasonable fair market values in your local area for the same or similar item. (There have been reports on this board over the past 10 years of people who were denied deductions because the IRS auditor did not accept ItsDeductible values.
You as the taxpayer have the ultimate responsibility to confirm that the ItsDeductible values shown are actually reasonable for your items in your area. It’s a convenience, it is not a guarantee.
January 26, 2023
10:37 AM
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