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Author: phooley Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121599  
Subject: Re: Donating an Appliance Date: 8/5/2001 5:46 PM
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If you donate an old appliance, say a range, to the Salvation Army or other charitable organization, can you take it as a tax deduction?

Yes, if you itemize deductions, you can deduct the value as a non-cash charitable contribution on Form 1040, Schedule A.

See IRS Publication 526, "Charitable Contributions", available to download at the IRS web site, <www.irs.gov>, or in HTML form at <www.irs.gov/forms_pubs/pubs/p526toc.htm>.

How do you figure out how much it is worth?

For this, you need IRS Pub. 561, "Determining the Value of Donated Property".

A commonly accepted method, I believe, is to visit thrift shops in the area and see what similar items are selling for.

As a guideline for planning purposes, you could take a look at the Salvation Army's donation valuation guide, <www.salvationarmy-usaeast.org/help/valuation_guide.htm>. (Hope that address keeps working for a while -- last year it tended to move around. You should be able to go to <www.salvationarmy.org> and navigate back to it, but I can't guarantee the path.)

Hope this helps,
Ron Donnell
Phooley in Phoenix
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