How to Determine the Value of Charitable Donations

Written by Wall Street News on May 31, 2016. Posted in Charitable donations, Helping military families, Purple heart donate

Wounded veterans charities

No matter where or how you decide to make a charitable donation, know that your giving matters. Not only will your used clothing donations benefit the organization you choose, they’ll help prevent some 2.5 billion pounds of fabric from ending up in landfills every year.

However, one of the immediate rewards of donating is that you can use the value of charitable donations as a personal tax write-off. If your donations total more than $250 in value, be sure to collect a receipt from the charitable organization for your records come tax season.

How can you know what your stuff is worth? Here’s a very quick and brief guide to some common household items you may be thinking about donating. For more detailed information or specific items not listed, check out a guide from your local clothing donations center or the IRS website.

Appliances
  • Coffee maker: $4 to $15
  • Microwave: $10 to $50
  • Working television set: $75 to $225
  • Lamps: $4 to $12
  • Air conditioner: $20 to $90

Clothing
  • Men’s suits and overcoats: around $60
  • Children’s jackets: $3 to $25
  • Women’s fur coat: $25 to $400
  • Pants: $2 to $10
  • Children’s snowsuits: $4 to $19

Household Items
  • Plates: $0.50 to $3 each
  • Rugs: $2 to $12
  • Curtains/Drapes: $2 to $40
  • Pictures/Paintings: $5 to $200
  • Bedding: $3 to $25
  • Furniture
  • Bed: $35 to $170
  • Crib: $25 to $100
  • Sofa: $35 to $300
  • Dresser/Wardrobe: $20 to $100
  • Computer system: $100 to $400
  • This list is only the beginning of the possible value of charitable donations you could easily make after a spring cleaning of your home. The old saying that “one man’s trash is another man’s treasure” doesn’t quite do it justice: With your old trash, you could be making a difference in someone else’s life, while getting the benefit of a tax write-off for yourself!

    It’s easy to see how a lot of small donations could easily add up. Charitable organizations are always looking for donations, no matter what time of year it is. So don’t limit yourself to spring cleaning or holiday giving; any season is the right season for charity. On top of the warm, fuzzy feelings and the tax write-off, you’ll also do your home a favor by cleaning out closet space and getting rid of unused clutter!

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