If the charity gave you a value for the scooter, you can use that as the FMV if you feel comfortable with their assessment.
Since FMV means the
value of the sale if you had sold it in an arm's length transaction, if you have documentation
that can substantiate your valuing of the donated items, you can use the FMV that you feel is most appropriate. There is no single formula that always applies when
determining the value of property. This is not to say that a valuation
is only guesswork. You must consider all the
facts and circumstances connected with the property, such as its desirability,
use, and scarcity.
To enter your Donations in TurboTax Online or Desktop, please
follow these steps:
- Once you are in your tax
return, click on the “Federal Taxes” tab
- Next click on “Deductions
& Credits”
- Next click on "jump to
full list" or “I’ll choose what I work on”
- Scroll down the screen until
to come to the section “Charitable Donations”
- Choose "show more",
then Donated to Charity in 2015 and follow the onscreen instructions
- Put charity's name and select "add" next item for the list
- Then select "I'll value them"
- Put in the date of donation.
- From the Category List choose "Other personal property" t
- Enter the Type of Property "Handicap Scooter", the value and method used (like present value)