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Author: 5000fingers Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: donating rental to charity Date: 1/6/2007 11:30 PM
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I am composer, and I rent out the score and instrumental parts for my operas from time to time. I have some special way of reporting the rental income of intellectual property on my Schedule C. I'm not sure exactly how and where, because Turbotax always takes care of it.

This year (2006) I donated the rental of two of my operas to a local small opera company. I usually get a thousand dollars per rental, so I'd like to write it off. Can I just write off my usual retail rental price like that of the in-kind contribution, which would give me a two thousand dollar charitable contribution? Or is there something different I have to do? And by the way this is a legitimate 501c3 non-profit, I have a letter of thanks from them that mentions the value of the rentals, and I can substantiate the fees.

Many thanks for any advice.
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