FMV factors
The four considerations Publication 561 lists for arriving at fair market value: cost or selling price, comparable sales, replacement cost, and expert opinion.
Publication 561 lists the factors used to determine fair market value: "The cost or selling price of the item", "Sales of comparable properties", "Replacement cost", and "Opinions of professional appraisers".
For used household goods the second factor does nearly all the work. What comparable used items actually sell for is the evidence, and the publication says as much about clothing specifically.
This is also the method a valuation dataset has to defend. DeductiBee derives its ranges from published valuation guides and comparable second-hand pricing rather than from any competitor's proprietary table, and shows the source next to the number.
Sources
Definitions describe the rule as published. They are not tax advice, and almost every threshold above has an exception attached to it in the underlying publication. Confirm anything that affects a return with a qualified tax professional.
Related terms
Fair market value (FMV)
The price property would sell for on the open market between a willing buyer and a willing seller, both informed and neither under compulsion.
Thrift shop value
What buyers of used items actually pay in consignment or thrift shops, which Publication 561 treats as an indication of value for used clothing.
Qualified appraisal
A formal written valuation, prepared by a qualified appraiser under professional standards, generally required for deductions over $5,000.
Condition tier
The grade assigned to a donated item, which selects a value range. DeductiBee uses Like new, Good, and Fair, and deliberately has no lower tier.
Values with the source attached
DeductiBee applies a cited fair-market-value range to everything you donate, keeps the photo with the record, and exports a Form 8283 worksheet when you file.
