Based on the original cost of the equipment, I think you are okay with their
value. It's reasonable. And you don't need an appraisal.
Donna J. Perrone, EA
East Haven, CT
203-469-4939
203-468-2038 fax
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-----Original Message-----
From: taxchat@yahoogroups.com [mailto:taxchat@yahoogroups.com] On Behalf Of
Sandy
Sent: Thursday, December 11, 2008 3:36 PM
To: taxchat@yahoogroups.com
Subject: [taxchat] Re: Qualified Donation?
Arnie, he paid over $6000 for the equipment 1 1/2 year ago. Had a knee
replacement and can't use it anymore. At this point I feel comfortable
taken the writeoff. The charity is the one setting what they feel is the
value. Same as in a "kept" car donation. If they can set the value for a
car, then the same logic suggests that this charity can set the value (to
them) of the equipment. Basically, I wanted to see if others saw the logic
in the argument.
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