How to Calculate Donation Values

If you are planning to prepare your taxes, you can itemize your deductions and include charitable donations. If you aren't using tax software to prepare your taxes, you will have to calculate the value for your donations on your own. You can easily find out how much your donations are worth by referring to a value guide online to make your calculations.

Things You'll Need

• Calculator

Instructions

1. Find a price list for donations at websites for such organizations as the Salvation Army, Goodwill, or Bankrate.com.

2. Locate the item you donated on the price list. The Salvation Army price guide includes values for many types of donations, including clothing for adults and children and household items.

3. Determine whether your donation fits in the high range or low range price. A high range item is in good condition and is often a brand name and a low range item may be something in acceptable condition or an off-brand item.

4. Record the prices for all of your items and then add them up to find the total value for your donation.

Tips & Warnings

• If the total value of your donated items is over $500, you must submit IRS Form 8283 when you file your taxes.

References

• Salvation Army: Price Guide
• Bankrate: Tax valuation guide for donated goods

Resources

• Goodwill: Price List
• IRS: Form 8283