Donation of Items

[rk911]

My brother-in-law passed away in 2021.  His sister (my wife) was his sole beneficiary of his entire estate. He was never married and had no children.  She donated a substantial amount of his personal property (clothing, household items, electronics, etc.).  In order to claim the charitable deduction TT wants to know the purchase price of these items.  She has no idea what the purchase price is...all of these items belonged to her late brother.  Other than making up a number (which we will not do) how do I determine the requested values?  DO I use $0?

[AamilD]

For the purchase price, you will use the fair market value on the date of death, and fair market value is method to determine value.  This will allow you to deduct the amount that the items were worth when you donated them.

You can get the Fair Market Value by looking at similar items for sale on eBay, Craigslist, or at your local thrift store.

[rk911]

thanks but doing that is going to be difficult and complicated.  my BIL had, literally, thousands of paperback and hardcover books and hundreds of commercially produced DVDs and record albums acquired over 50-years as well as many other household goods (appliances, dishware, cookware, etc).  it took two of us driving large SUVs 20-trips (40-car loads) to sort thru and deliver everything to Goodwill (in addition to 6-dumptruck loads and 9-legal sized bankers boxes of paper to be shredded).  my BIL was a hoarder so nothing in the home was organized.  it took us 6 1/2 weeks to clear everything out.  i have no way of knowing the value of a paperback novel or record album purchased in the late 60's or early 70's.  not having a written inventory of the titles I may have to get a value and average it out.  

appreciate your reply.

[DianeW777]

Here is the Salvation Army donation value guide and an IRS link that may be helpful for you.

• Salvation Army Thrift Store Guide
• IRS Publication 561

[rk911]

thanks!

[CherylHouston]

I use ItsDeductible to help figure the fair market value.  https://turbotax.intuit.com/personal-taxes/itsdeductible/

Then you can transfer it from there right into TurboTax.  Hope that helps.

[rk911]

I use that as well, thanks.  TT is asking for the original cost of the donated items, which i don't have and cannot get.