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Can I enter my own items not found in ItsDeductable?

Items such as specific toys or tools.
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MonikaK1
Employee Tax Expert

Can I enter my own items not found in ItsDeductable?

You don't have to use It's Deductible to value your items - but it's a useful tool to find thrift-shop values for typical donated goods. It's Deductible's patented fair market valuation process not only saves you time, it can save the average donor who itemizes hundreds of dollars per year in taxes. See here for more information about the program.

 

If you don't see a particular item listed in the program - you can use a similar item if its value would be comparable. If you have donated a unique item not in the program and you have evidence of its value, you can enter it separately from your It's Deductible totals.

 

See IRS Publication 561 for more detailed information about how to value donated items.

 

 

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1 Reply
MonikaK1
Employee Tax Expert

Can I enter my own items not found in ItsDeductable?

You don't have to use It's Deductible to value your items - but it's a useful tool to find thrift-shop values for typical donated goods. It's Deductible's patented fair market valuation process not only saves you time, it can save the average donor who itemizes hundreds of dollars per year in taxes. See here for more information about the program.

 

If you don't see a particular item listed in the program - you can use a similar item if its value would be comparable. If you have donated a unique item not in the program and you have evidence of its value, you can enter it separately from your It's Deductible totals.

 

See IRS Publication 561 for more detailed information about how to value donated items.

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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