The assessment tool provided by The Salvation Army assists individuals in determining the potential tax-deductible value of donated goods. It functions by referencing published fair market values for common household items, clothing, and other goods typically donated. This provides a reasonable estimate for donors when calculating charitable contributions.
This resource offers several benefits, including simplifying the donation tracking process and providing a basis for item valuation when filing tax returns. Historically, calculating the value of non-cash donations has been a complex and often inaccurate task, leading to potential errors in tax filings. The availability of such a tool promotes greater transparency and accuracy in charitable giving.
