turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

rayneoo
New Member

What is the fair market valee for prescription eyeglasses donated to charity?

I have used prescription eyeglasses that I donated to Goodwill.

What is the FMV (fair market value) that I can claim on ItsDeductible?  I can't locate anything that tells me.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies
MichaelDC
New Member

What is the fair market valee for prescription eyeglasses donated to charity?

By law, a charity cannot tell you what your donated items are worth. This is something you must do yourself. To assess "fair market value" for your donations. Another possibility is to ask a local optometrist or see what an online vendor would charge for a similar new pair. Of course, value usually depends on the condition of the item.
Use this IRS definition to guide your valuation: "Fair Market Value is the price a willing, knowledgeable buyer would pay a willing, knowledgeable seller when neither has to buy or sell."



rayneoo
New Member

What is the fair market valee for prescription eyeglasses donated to charity?

Thanks to Michael for your response.  I'm aware of the information you provided.  I was hoping that ItsDeductible would provide guidance, as it does on so many other items, but I don't find anything there.
MichaelDC
New Member

What is the fair market valee for prescription eyeglasses donated to charity?

More than a pleasure!

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question