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How to prepare Form Salvation Army Valuation Guide

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About Form Salvation Army Valuation Guide

The Form Salvation Army Valuation Guide is a comprehensive resource provided by The Salvation Army, a renowned charitable organization. This guide is designed to assist individuals in determining the fair market value of their non-cash donations made to the organization. The Salvation Army accepts various types of non-cash donations, including clothing, household items, furniture, electronics, and vehicles. When individuals donate these items, they may be eligible for a tax deduction based on their fair market value. The Salvation Army Valuation Guide provides estimated values for different types of items, helping donors assess the worth of their donations for tax purposes. It includes a wide range of categories and provides suggested values, which are typically based on the condition, age, and quality of the items being donated. This valuation guide is primarily intended for individuals who donate non-cash items to The Salvation Army and wish to claim a tax deduction. It offers a convenient and reliable reference for donors to determine the value of their contributions accurately. By utilizing this guide, donors can ensure they receive the appropriate tax benefits while supporting the charitable work of The Salvation Army.

What Is Salvation Army Donation Value Guide?

If you have donated something to a charity, you have to determine its value. It affects how much in taxes you will save. Considering, that flea market prices are too low, it’s not advisable to ethe value of donated things basing on what they might sell on a garage sale.

For your convenience, use the Salvation Army Valuation Guide. Salvation Army offers a printed form, that lists values of 138 items, mostly clothing as either Low or High. Thus, you may ethe average price for the thing listed in the document.

Take into consideration the fact, that all thing must be in good condition. New or expensive items would be estimated higher and damaged items will get a lower price. Note, the list is only for your guidance. There is a range of criterias for calculating the price such as:

  • condition,
  • age,
  • antique value,
  • cleanliness,
  • repair needed,
  • and value when new.

How to get the Salvation Army Valuation Guide Form?

Find a PDF template on the website. Easily edit and customize it to fit your needs. You may erase any content from a document if needed and highlight the important information.

Notice: If you use the Salvation Army Valuation Guide, you would probably ea fair market value and deduct that as a charitable contribution on the Schedule A Itemized Deduction form. However, if you used a donated thing for your business, you must subtract from this fair market value the amount of any deduction you claimed on it for your business.

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Video instructions and help with filling out and completing Form Salvation Army Valuation Guide

Instructions and Help about Form Salvation Army Valuation Guide

Hi there my name is Sherry Evans I'm the Chief Financial Officer at Goodwill Northern New England and I'm also a CPA first off I'd like to thank you for donating to Goodwill you may not realize it but you may be able to deduct the items you donate on your tax returns save on your tax liability when you donate at Goodwill you scan the QR code and it will immediately email you a receipt or you may have a paper receipt in which case you just fill out the date in your name and there's a place for the value of the items that you've donated to find the value you can just look on the back of the form or you can go to our website now when you file your tax return you would want to itemize deductions instead of taking the standard deduction itemizing deductions is usually most advantageous for folks who own a home and can deduct mortgage interest taxes or people with high out-of-pocket medical costs or those who make large amounts of donations to charities so when you file your 1040 form in order to itemize you'd want to select the itemized deduction instead of the standard deduction and then on schedule a you would list the expenses you had related to your home mortgage interest taxes you can also deduct your medical expenses and both cash and non-cash items such as the items you donated on this form if you donate over 500 worth of items to Goodwill you would then need to complete form 8283 which just asks for a little more information about those items if you need help filing your tax return you can go to the IRS website and they can provide a list of free...