Charitable Contributions Noncash FMV Guide

Determine the fair market value (FMV) of noncash charitable contributions with this comprehensive guide. Perfect for taxpayers looking to maximize their deductions, this resource provides FMV ranges for a variety of donated items, including clothing, household goods, and more. It also includes recordkeeping tips to ensure compliance with IRS requirements.

Highlights:

• FMV Ranges: Detailed FMV estimates for men’s, women’s, and children’s clothing, household items, furniture, and more.

• Recordkeeping Requirements: Guidelines for documenting donations to substantiate deductions, including information on donation tracking.

• Special Considerations: Tips on how to handle high-value donations and items in good condition.