The first step is to appraise the condition. You can use similar guidelines for other equipment. Next, assign a value. The site prints a list of suggested values based on the organization s thrift-store clothing prices. If you regularly donate items to charities and record the values on Tax Form 1040, Schedule A, keep a record of how you valued each item.
Some charities solicit used cars.
Often the value the charity assigns to the donated automobile is inflated. Protect yourself and use a blue book value. Photograph the car and save repair receipts to help prove the car s value should you be audited. Lastly, make sure the organization receiving your donation qualifies for tax-exempt status. Goodwill, Salvation Army, churches and synagogues and Red Cross are examples of qualified organizations.