Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
nbd6u1c
New Member

Can I claim clothes given to charity that were my father’s who died in June 2018?

 
1 Reply
Ashby
New Member

Can I claim clothes given to charity that were my father’s who died in June 2018?

Yes.

In most cases, the amount your can deduct is the lower of (1) the Fair Market Value of the item or (2) its "Basis".

The "Basis" of an item that you received as a Gift is usually the original purchase price by the person who bought it.

The "Basis" of an item you inherited is the Fair Market Value of the item on the day that person died.


Dynamic AdsDynamic Ads
Privacy Settings
v