I used TurboTax's Fair estimate value calculator to determine the price of my donations, but that is not an option listed under Valuation Method. So what should I select?

[CatinaT1]

Here's a FAQ: How do I use the Fair Market Value (FMV) tool to enter donations?

[leemarsh]

Dear J.J.,

Boy are you correct in questioning this year's method for valuing items for donation!  In past years TurboTax has used a much more sophisticated calculator but this year's is a much blunter instrument.  Having used TurboTax for more than 25 years and all those years having declared charitable deductions for items donated to Goodwill and others without incident, I have operated by a simple rule of thumb: if the item is new, declare it as such, if not take the lower value.  It's just not worth compromising your return.  After all, your instinct for donating to a charity is a good one so be true to that instinct and when in any doubt stick to the lower value.

Good luck filing.

Marsh Lee