Sunday, October 4, 2009

Donating Computers for Tax Write offs?

I have a couple of computers sitting in storage that I don't use, and I don't honestly know if they work(one of them doesn't for sure, the other one, I just don't remember). I want to get rid of these computers, and I know there are places where I can donate these computers to be put back together and refurbished for schools and other charitable organizations.



I was curious how this applies to the concept of a "tax writeoff", and what benefit that has for me? I don't know anything about this, but it sounds like it might save me some money. If not, oh well, but I would like to know a little bit more about it, since I'm sure this won't be the last time I end up donating something I don't use to a charity or other organization.



Thanks in advance!



Donating Computers for Tax Write offs?computer security



It wouldn't be a tax-write off, but would be a non-cash charitable contribution, and would be deducted on Schedule A - Itemized Deductions, under charity - non-cash. The only thing is, if one doesn't work, it isn't worth much if anything at all, and on donating something other than cash, you get a donation for the market value of the item, what it is worth. So by donating a broken computer, you would be donating something worth nothing, and that is what you would get for a non-cash deduction. Oh, to get any benefit also from the non-cash deduction, you have to itemize as well, with your total itemized deductions being more than your standard deduction.

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