The Top Missed Itemized Deductions
- While most people remember to write off their cash donations, many taxpayers forget to take a deduction for clothing or items they donate to charities. If you donate an item worth more than $500, you must get an appraisal to determine your deduction. If the items you donate have a fair-market value of less than $500, you can substantiate your deduction with a letter from the charity. Find similar items for sale at garage sales or flea markets to determine the fair-market value of the items.