Determining the value of a single item for donation purposes also relies on fair market value. Ask what a typical buyer would reasonably pay for the item today in its current condition, assuming neither buyer nor seller is under pressure. Research comparable sales from realistic sources. For example, check recent sales on online marketplaces rather than the highest asking price, or visit secondhand stores to see actual tagged prices. Consider age, brand, quality, and wear, and be conservative if the item is outdated or hard to sell. For complex or unique property such as fine art, jewelry, or specialized equipment, a professional appraisal may be necessary, especially when the item’s value is high. Document how you reached your estimate so you can explain it if questioned later.
