topic If I donate a brand new item and give it to a charity unopened still in the original packaging, isn't the value of the new item the same as what I paid for it? in Deductions & credits

If I donate a brand new item and give it to a charity unopened still in the original packaging, isn't the value of the new item the same as what I paid for it?

choosylady — Fri, 07 Jun 2019 22:14:24 GMT

The items are brand new and still in the original packaging never ever used.

Yes. Select "Comparable Sales" when entering it.

SweetieJean — Fri, 07 Jun 2019 22:14:26 GMT

Yes. Select "Comparable Sales" when entering it.

Not always. Some items drop in value over time. For exa...

bclee — Fri, 07 Jun 2019 22:14:34 GMT

Not always. Some items drop in value over time. For example, if you bought a new PC in 1998 for $1000 and it was still new in the box, it could not be fairly valued as $1000 today. The donation value of an item is what it is worth on the date it was donated.

Good point, but many donations are made relatively quickl...

SweetieJean — Fri, 07 Jun 2019 22:14:35 GMT

Good point, but many donations are made relatively quickly after the purchase, For example, you go to a store and buy things for an upcoming church rummage sale or charity auction.