6 Nov
2003
6 Nov
'03
8:47 a.m.
--- Fred Cisin <cisin(a)xenosoft.com> wrote:
How did you figure $1000 as the "fair market value"
for a Centronics 101?
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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.