--- Fred Cisin <cisin_at_xenosoft.com> wrote:
>> Something else to consider: If you donate something
> to a valid non-profit
> (501C3?), then the amount that you can deduct is
> what you paid for it;
> EXCEPT,... if you had had it for over a year before
> making the donation,
> then you can deduct the "fair market value". I paid
> the usual $10 for a
> Centronics 101 printer. A few years later, I
> donated it to City College
> of San Francisco. (They NEEDED a printer for their
> TRS-80s that could
> withstand heavy use and abuse) The IRS was
> perfectly content with my
> taking a $1000 tax deduction, although, if I were to
> have made the
> donation within the first year after I bought it,
> they would only have
> permitted the $10.
>
How did you figure $1000 as the "fair market value"
for a Centronics 101?
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Received on Thu Nov 06 2003 - 16:47:11 GMT