Value of charitable donation

I donated a fully electric bariatric bed to charity that was used for 1 year in our home. Comps online show used bed sells for $999. It sells new for $2,295. IRS requires listing original purchase price. Given our insurance helped pay for bed with us making copays... may I list donated value at $800 and that we payed $2,295?

posted

No. Your donation value is the current market value for the same item in similar (used) condition, or your actual cost, whichever is less. Your cost is what you paid out of pocket, and does not include amounts that were paid tax-free by your insurance company.