Michael P. Rudy and Associates - mrcpa.net

How to Value Non-Cash Contributions

Arthur Godfrey, radio and TV great, said . . . . . “I’m proud to be paying taxes in the United States. The only thing is – I could be just as proud for half the money.” Non-cash contributions is one of the most over looked deductions every year for several reasons. Items get donated without a detailed list so there is no way to value those items. In other instances, detailed lists may be available without a method of valuing the items. The information below should provide information and assistance in making the most of your non-cash contribution deductions.

Deduct it! Deduct it!
This paperback book helps you document and value your non-cash charitable donations. Fair market values are researched within the last quarter of the prior year across the country in used clothing stores, thrift shops, online, and other methods.

Salvation Army:


Purple Heart:
You can find specifics regarding valuing your donations on this donate page.

All items donated to the Purple Heart, are deductible for income tax purposes at their present Fair Market Value. Internal Revenue code places the responsibility for the “Fair Market Value” upon the donor rather than the agency receiving the gift. The Internal Revenue advises that “Fair Market Value” is interpreted as that price which a buyer is willing to pay and a seller is willing to accept.