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Item donations are donations of property you give to qualified charities. Item donations include things like:
You can usually deduct the fair market value (FMV) of an item in the year you donate it. You're required to get an appraisal and submit it with your return if both of these are true:
If you're donating an item worth more than $500, you need to know the basis of the property. For most items, this is the amount you paid for the donated item. This must take into account any additions or subtractions from basis while you held the property. If you received the item as a gift, your basis in the property is the donor's basis plus any gift taxes paid.
If you inherited the item, your basis will depend on the deceased's date of death. Use these rules:
If the total of your item donations is more than $500, you'll need to file Form 8283: Noncash Charitable Contributions.
This applies if:
Special rules apply to donations of:
To learn more, see: