What is my allowable Charitable Contribution for items that are NIB (New In Box)? Items have never been used. All were purchased by me when they were current models, some recently, and some as long as 30 years ago. Even some 30 year old items are still current models, and as good as newly manufactured. Some are outdated, but still NIB. Fair Market Value of some items is less than my cost, and for others, far greater. If a business, I could deduct cost, period. As an individual, I could regard some as a gift of appreciated property, and deduct the FMV, which is more than I paid. But must my deduction be limited to FMV for outdated items that I bought and never used? Which theory works with the IRS?