Make a list of the things you have donated. Obtain a receipt or other documentation for the donation. Keep the receipt because it serves as proof for the IRS to allow for a tax deduction for the donated property.
Establish the value of the property donated. For high-value property worth more than $5,000, you will need a written appraisal from a qualified appraiser to verify value of your deduction. According to the IRS, you should always submit a copy of the appraisal with your tax return. The donated property's fair market value will determine how much tax is deductible.
Establish the accounting details of every property you own. Donations recorded on the general ledger are commonly input as "Other Income." As such, the noncash donation is subject to tax deduction when an IRS audit is performed.