Originally Posted by sweetana3

Publication 526 gives all the information on donations. Must be a qualified organization. Must be generally the lesser of fair market value or basis which is the $$ amount paid to purchase the materials to make the product and any purchases services like quilting that went into producing the product. Your own time or any appreciation is not counted.

So many forget that the organization must be qualified and it is not fair market value unless it is less than cost. Like clothes donated to Goodwill, it is the lesser value rather than what you paid for them.

Stocks and cars have unique implications.

Wise to read the Publication for specifics.