The IRS allows taxpayers with a charitable inclination to take a deduction for a wide range of donated items.
However, the IRS does provide specific guidelines for those taxpayers contributing non-cash items, from the type of charity you can donate to in order to take a deduction to the quality of the goods you contribute and how to value them for deduction purposes.
If your summer cleaning has led you to set aside clothes and other items for charity, and you would like to know how to value these items for tax purposes, read on.
Household items that can be donated to charity, and for which a deduction is allowed, include:
• Similar items
The following are not considered household items for charitable deduction purposes:
• Paintings, antiques, and other art objects
Read the full IRS Rules on Donating Clothing and Furniture article.