My question involves estate proceedings in the state of: PA
We are donating a substantial amount of items to a local thrift store. Valuation for these items for tax purposes is our responsibility. Not knowing how to value them, I got on Google and found this document from Goodwill: http://ift.tt/2lOlvUW
Was just curious to get some opinions on how to most accurately value the items we are donating based on the rather large range of prices. Should I just use the low end number or an average on the range? I want to minimize any risk of being audited etc. by using an accurate value. Thanks.
We are donating a substantial amount of items to a local thrift store. Valuation for these items for tax purposes is our responsibility. Not knowing how to value them, I got on Google and found this document from Goodwill: http://ift.tt/2lOlvUW
Was just curious to get some opinions on how to most accurately value the items we are donating based on the rather large range of prices. Should I just use the low end number or an average on the range? I want to minimize any risk of being audited etc. by using an accurate value. Thanks.
Valuation of Assets: Valuation of Donated Items for Tax Purposes
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