Yes.
In most cases, the amount your can deduct is the lower of (1) the Fair Market Value of the item or (2) its "Basis".
The "Basis" of an item that you received as a Gift is usually the original purchase price by the person who bought it.
The "Basis" of an item you inherited is the Fair Market Value of the item on the day that person died.
However, be aware that if the value was $250 or more, you may need certain receipts or other things in connection with the donation.
https://www.irs.gov/publications/p526#en_US_2016_publink1000229835
Also be aware that unless you are Itemizing your deductions, a charitable contribution would not save any Federal income tax.
