The value of donated good for tax purposes is considered to be the fair market value (the price someone would actually pay in a consignment or thrift store) for used household goods.

The IRS offers two publications that can give guidance for what this value is: Publication 561 (Determining the Value of Donated Property) and Publication 526 (Charitable Contributions).

If your donation is over $500 you’ll need to attach Form 8283 to your tax return.

Other sales venues such as eBay, consignment stores and thrift stores can also give you an idea of the fair market value of your donation.

Since tax law changes yearly, we suggest you consult a tax preparation professional to ensure that you can get the correct deduction.