[Repeal The 17th]

According to the Internal Revenue Service (IRS),
a taxpayer can deduct the “fair market value” of clothing,
household goods, used furniture, shoes, books and so forth.
“Fair market value” is the price a willing buyer would pay for them.
-
https://www.amazinggoodwill.com/donating/IRS-guidelines

[ExTexasRedhead]

Go to a Thrift Store and see what they charge for used items. I paid $5 for a $100 pair of Miss Me jeans. I paid $6 for a pair of tennis shoes worth $125 new.

I was told the same thing by a CPA who prepared my taxes. Padding donations is, IMO, an At Risk deal. If you ever have to prove a deduction that is ridiculous.

[sitetest]

My accountant recommends, where there isn’t an independent appraisal of fair market value, taking 20% of the original price.

[texas booster]

To make it more fun all donations over $5000 now need to have an appraisal for the items donated.

So who appraised her used clothing?

I did a tax return for a deceased couple that, based on the pictures their kids brought, could have easily claimed close to $50,000 for all of the furniture and clothing donated.

Items that did not sell at the estate sale ...

[az_gila]

And you can push off the calculation of what is “fair market value” onto a third party.

https://turbotax.intuit.com/personal-taxes/itsdeductible

Makes it easy..:^)

[Nifster]

And what’s the fair market value of used clothes?