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pam-reese
New Member

How do I determine the purchase price for household goods if I don't know?

 
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Hal_Al
Level 15

How do I determine the purchase price for household goods if I don't know?

Just guess. It usually doesn't matter. The only time it matters is if your cost basis (purchase price) is less than the fair market value that you are claiming for the deduction.  That's unlikely for used items.

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Hal_Al
Level 15

How do I determine the purchase price for household goods if I don't know?

Just guess. It usually doesn't matter. The only time it matters is if your cost basis (purchase price) is less than the fair market value that you are claiming for the deduction.  That's unlikely for used items.

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