Most of the time it will be the fair market value (FMV) of your item and does not consider the family value of the item. However, if the amount you originally paid for the item is less than the FMV, you must use the original cost of the item.
You can get the FMV by looking at similar items for sale on eBay, Craigslist, or at your local thrift store. When you use ItsDeductible, it will assign a FMV to most items that are commonly donated.
Determining the value of a donated car involves a few more steps, if its value is over $500.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"