topic What value can I use on sale clothes? in Deductions & credits

What value can I use on sale clothes?

sinkjk1 — Mon, 23 Feb 2026 09:35:36 GMT

Bought some new clothes that were originally 19.99 but were being closed out at 0.99. What value can I use for my tax deduction?

xmasbaby0 — Tue, 31 Jan 2023 20:29:24 GMT

The amount you paid.

HelenC12 — Tue, 31 Jan 2023 20:36:21 GMT

The value you can use is what you paid for the clothes. That is your basis.

Your basis is essentially your investment in an asset—the amount you will use to determine your profit or loss when you sell it.