How do non-cash, charitable donations work in terms of tax deductions? (1 Viewer)

[Daniel Swartz]

For example, if I donate 10 items (all the same) that I purchased at $10/each ($100 total), in a very good deal, but can find them at retailers easily selling for double that, what amount am I allowed to deduct? $100 or $200? Thanks!

 

[Chris Lock]

$100 in that case, since that was how much you spent on what you donated.

 

[Daniel Swartz]

Thanks. I wasn't sure if it was actual value or fair market value.