Charitable Contributions Noncash FMV Guide

Fair Market Value Guide

Charitable Contributions: Noncash FMV Guide

Clothing or household items

No deduction is allowed for a charitable contribution of clothing or household items unless the clothing or household item is in good used condition or better. The IRS is authorized by regulation to deny a deduction for any contribution of clothing or a household item that has minimal monetary value, such as used socks and undergarments.

Planning Tip: Take a picture of all items donated. Keep the pictures for proof the items were in good or better condition at the time they were donated.

Substantiation Requirements for Charitable Contributions

To help substantiate a deduction for the fair market value of used items donated to charity, make a list of each item donated on a separate sheet of paper along with the following information:

Name and address of charity.
Date item was donated to the charity.
Description of each item donated.
Fair market value of each item at the time it was donated (see the list on this page).
Date each donated item was originally purchased or acquired.
Cost or another basis of each item donated.

Contact Us

Every financial decision you make throughout the year can impact your tax situation. At FCFS, we do more than just prepare your tax return — we help you plan ahead strategically. With proper guidance, you can avoid costly tax consequences and take advantage of key opportunities. Reach out to us before making major financial moves and let FCFS help you stay ahead with smart tax planning.

Pension or IRA distributions.
Significant change in income or deductions.
Job change.
Marriage.
Attainment of age 59 or 73.
Sale or purchase of a business.
Sale or purchase of a residence or other real estate.
Retirement.
Notice from IRS or other revenue department.
Divorce or separation.
Self-employment.
Charitable contributions of property in excess of $5,000.

This brochure contains general information for taxpayers and should not be relied upon as the only source of authority. Taxpayers should seek professional tax advice for more information.