Fair Market value

[josl01900]

 The Premier version is not allowing me to use fair market value .  The only information with in the program states the below. When will this tool be ready please. I am trying to file 

COMING SOON: We’re working on a new tool to help you look up the fair market value of your item. We expect it to be ready soon, but you can file without it.

For donated items worth more than $500, you’ll need to get an appraisal to support the value.

Here are some things to consider when determining the value of your items:

Household items and clothing

For these items, the FMV is indicated by the price typical buyers would pay in used clothing, consignment, or thrift shops for items of similar age, condition, style, and use. 

Items must generally be in good used condition or better to be deductible, and the FMV is almost always much lower than the price you paid when the item was new.

Art and collectibles

[Opus 17]

Turbotax does not currently have an assistant to help you determine the value of your items.  However, you can enter the value yourself if you know it.  You do not need to list every individual item that you donated.

You are required to have your own accurate records that includes a list of items (inventory) with sufficient detail to be able to determine the value-- at a minimum, a short description and the condition (good or fair, you can't claim a deduction for items in poor condition unless you have a signed appraisal.)

Then, you can enter group donations and assign a group value.  For example, if you donated a group of used clothing items with a combined value of $100 on June 6, you can enter that as a single donation.  You don't need to list each item of clothing.  You can get the values yourself by checking the prices in local thrift stores, or for higher quality items, maybe look at Thredup or consignment stores.