You may deduct, from your federal and state taxes, the "fair market value" of goods, stock, property, vehicles, etc. that you donate to the Idaho Youth Ranch. The IRS defines fair market value as "What a willing and informed buyer would pay to a willing and informed seller."
The "willing buyer" must be at "arms length". In other words, if your brother-in-law offers you $20,000 for your old lawnmower, you can't claim that amount for donating the mower to the Ranch.
The value you establish must be for the contribution you are making, in its current condition. You may have paid $300 for that lawnmower, but that was 20 years ago, and it doesn't work now. Today it might be worth $40. Think about what it might bring in a yard sale.
The value you claim is your responsibility. The Ranch is not permitted to establish values for you.
The IRS requires, for contributions of property worth over $500, completion of form 8283 , Section A. This form shows the IRS how you arrived at the value you are claiming. If you are claiming a value of $5,000 or more, you must also complete Section B which requires an independent appraisal. This form is available from the IRS, or from us.