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by: techieno August 9, 2012 7:23 PM PDT

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Tax deduction value for donated TV

by techieno - 8/9/12 7:23 PM

I will donate a Pioneer Elite PRO-920HD 43" plasma TV to a charitable organization, to be used by the organization itself. I bought the TV in 2005 for $5650. Although it received excellent reviews, Pioneer no longer makes TVs.

I checked on eBay and other sites and can find nothing comparable to this TV to discover what is a reasonable re-sale price. How do I determine an honest, documentable, fair amount to be deducted on my taxed for a charitable contribution?


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If I were to do this.

by R. Proffitt Moderator - 8/10/12 7:36 AM

In Reply to: Tax deduction value for donated TV by techieno

I'd look at new models and use half that value and that might be accepted. But I may call it in and check with the IRS.

http://www.amazon.com/Samsung-PN43D450-43-Inch-Plasma-Black/dp/B004MKNQGO is currently 423 USD so try 210 bucks.

Remember that current value has nothing to do with purchase price.
Bob


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If I were to do this

by techieno - 8/15/12 3:14 PM

In Reply to: If I were to do this. by R. Proffitt Moderator

Thank you!


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