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Charitable Contributions: Noncash FMV Guide
Planning Tip: Most cell phones today can take pictures.
Noncash Donation Tracker Take a picture of all items donated. Keep the electronic
Items $ 500 or Less In Value pictures for proof the items were in good or better con-
Date of Contribution(s): dition at the time they were donated.
Organization:
Recordkeeping Rules for Charitable Contributions
Address: To help substantiate a deduction for the fair market val-
Condition: Fair Market Total Fair Market
Item Qty. ue of used items donated to charity, make a list of each
Good or Excellent Value Per Item Value
item donated on a separate sheet of paper along with
1 $ $
the following information.
2 $ $ • Name and address of charity.
3 $ $ • Date items were donated to the charity.
• Description of each item donated.
4 $ $
• Fair market value of each item at the time they were
5 $ $
donated (see the list on this page).
6 $ $ • Date each donated item was originally purchased or
7 $ $ acquired.
• Cost or other basis of each item donated.
8 $ $
9 $ $
Noncash Donation Tracker
10 $ $
Items $ 501 to $ 5,000
11 $ $
Date of Organization:
12 $ $ Contribution(s):
13 $ $ Address:
14 $ $
Item: How Item Was Acquired:
15 $ $
16 $ $ Fair Market Value: * Purchase Date: Purchase Cost:
$ $
17 $ $
Date of Organization:
18 $ $ Contribution(s):
19 $ $ Address:
20 $ $
Item: How Item Was Acquired:
21 $ $
22 $ $
Fair Market Value: * Purchase Date: Purchase Cost:
23 $ $ $ $
24 $ $ * T = Thrift Shop Value A = Appraisal
C = Comparable Sales O = Other
25 $ $
Total Fair Market Value $
Contact Us
There are many events that occur during the year that can affect
No deduction is allowed for a charitable contribution your tax situation. Preparation of your tax return involves sum-
of clothing or household items unless the clothing or marizing transactions and events that occurred during the prior
household item is in good used condition or better. The year. In most situations, treatment is firmly established at the
IRS is authorized by regulation to deny a deduction for time the transaction occurs. However, negative tax effects can
be avoided by proper planning. Please contact us in advance
any contribution of clothing or a household item that if you have questions about the tax effects of a transaction or
has minimal monetary value, such as used socks and event, including the following:
undergarments. • Pension or IRA distributions. • Retirement.
• Significant change in income or • Notice from IRS or other
deductions. revenue department.
• Job change. • Divorce or separation.
This brochure contains general information for taxpayers and • Marriage. • Self-employment.
should not be relied upon as the only source of authority. • Attainment of age 59½ or 70½. • Charitable contributions
Taxpayers should seek professional tax advice for more information. • Sale or purchase of a business. of property in excess of
• Sale or purchase of a residence $5,000.
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All Rights Reserved

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