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Deductions & credits
By
law, a charity cannot tell you what your donated items are worth. This is
something you must do yourself. To assess "fair market value" for
your donations. Another possibility is to ask a local optometrist or see what an online vendor would charge for a similar new pair. Of course, value usually
depends on the condition of the item.
Use this IRS definition to guide your valuation: "Fair Market Value is the price a willing, knowledgeable buyer would pay a willing, knowledgeable seller when neither has to buy or sell."
Use this IRS definition to guide your valuation: "Fair Market Value is the price a willing, knowledgeable buyer would pay a willing, knowledgeable seller when neither has to buy or sell."
May 31, 2019
11:16 PM