Clothing contributions - How to calculate
Answer:
Usually you can use the average (poor, average, perfect condition)fair market value method.
Speak to your local CPA. He/She usually has checklist from a recognized IRS charity such as the Salvation Army with recommended non-cash (clothing) contribution deduction amounts.
When the value of this donation is more than $500, IRS Form 8283 is required to be filled out.
Speak to your local CPA. He/She usually has checklist from a recognized IRS charity such as the Salvation Army with recommended non-cash (clothing) contribution deduction amounts.
When the value of this donation is more than $500, IRS Form 8283 is required to be filled out.
