Comments on: How much was that stuff worth?

Question: How much was that stuff worth?

nakedcodemonkey — Fri, 28 Mar 2008 15:11:37 -0800

How much was that stuff worth? I have to prepare a fairly precise net worth statement for Sept 93 on short notice. Most is easily pulled off old statements, but how do I come up with a solid fair market valuation for household/personal goods? It's peak tax season, so impossible to get an fast answer from an accountant. The only obvious calculator just throws validation errors.

The place has been through several clutter purges and a couple buying sprees in the interim. Darned if I recall what was and wasn't here so long ago. What's a good method for estimating the value of household contents?

By: Sassyfras

Sassyfras — Fri, 28 Mar 2008 16:33:45 -0800

Are you just talking about household stuff - like a couch or clothes or what? If that's the case, then how about this Goodwill Value Guide.

By: misha

misha — Fri, 28 Mar 2008 16:45:34 -0800

Tax Act Online will help you calculate this stuff for free, or you can purchase software like Tax Advisor.

By: nakedcodemonkey

nakedcodemonkey — Fri, 28 Mar 2008 20:51:52 -0800

Yes, it needs to sum up all household belongings, i.e. everything inside except what came with the place itself. So any estimation method that's less long and painstaking than inventorying items individually and looking up each's worth. That calculator bases its estimate on number of rooms (6) and general quality of possessions (simple). Sounds reasonable, if there's one that actually spits out an answer.