What are noncash charitable contributions?
A noncash charitable contribution is a donation you give to a qualified charity that is not money. Instead, it is usually an item, property, or another type of asset.
Common examples include:
You may be able to deduct noncash donations on Schedule A if you itemize deductions. The IRS may also require Form 8283, Noncash Charitable Contributions if your noncash donation deduction is more than $500.
What is fair market value?
For most noncash donations, your deduction is based on the item’s fair market value. This is usually what the item could sell for in its current condition, not what you paid for it.
For example, if you donated a used coat, the fair market value would be closer to what someone might pay for that used coat today.
What is the Donation Assistant tool?
The Donation Assistant tool helps estimate fair market values for common donated items, like clothing and household goods.
Instead of looking up values yourself, you can enter your donated items and let the tool guide you through the process. It uses an IRS-compliant method to help you estimate values and keep your donation details organized.
Why use the Donation Assistant tool?
Use the Donation Assistant tool if you want help estimating the value of your donated items. It can make the process easier by helping you:
You can still choose Enter myself if you already know the fair market value for each item and want to enter the amounts manually.
Important rules to know
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