How to Get Appraisal Reports for Clothing Donations. Donating your old clothing to charity is a reputable cause. The added bonus is that you can write off the value of the clothing you donate as a tax deduction. In order to get an accurate number, there are a few steps you need to take to appraise the value of the clothing.
Keep a list of the specific items you donate, including their condition and the date of donation. In regard to condition, note whether the clothing is name brand and how much wear and tear is visible.
Consider using online resources, such as TurboTax It's Deductible program, to keep track of your clothing donations for free year round (see Resources). These type of programs help you determine a value for each individual clothing item.
Check with the charity that you donate clothing to and find out what value it places on the items (see Resources). They will typically offer a low and a high range for items, based upon their condition and brand.
Retain purchase and donation receipts, especially if your yearly contributions add up to more than $500. For annual donations of this caliber, you must file out Section A of IRS Form 8283 for non-cash charitable contributions.
Hire a professional appraiser to determine the value of your clothing donation if the individual clothing item or outfit, such as a business suit, is worth more than $5,000 (this applies to any non-cash donation). The appraiser must have authorization to complete Section B, Part III of Form 8283 and you must file a declaration of appraisal with the form.
This article was written by PocketSense staff. If you have any questions, please reach out to us on our contact us page.