Ignoramus26150 wrote in
:

On 2013-11-09, F George McDuffee
wrote:

Even if obsolete from a production perspective, if
operational, these may have instructional value. Check to
see if the technical schools in your area are interested,
and you may make out much better donating the machines and
receiving the tax deduction, if you are making enough to be
paying taxes.

The way charitable donations should be reported, is as follows: the
donor should deduct the "fair market value" of the donated
property. If I purchased the property recently, at an auction, only
the purchase value is allowed to be deducted.

For example, I bought these EDMs for $200 plus 15% buyer premium
(each), so $230 would be how much I am allowed to deduct. This would
bring me tax savings of $80-90. Clearly not a good deal to buy a
machine for $230 for a $90 tax benefit, but this is how donations
should be reported.


OTOH, if you sell one sucessfully, you've just established the fair
market value and can donate the other at that value deduction. If you
don't want them hanging around, that may well be easier than finding a
second buyer.

--
Ian Malcolm. London, ENGLAND. (NEWSGROUP REPLY PREFERRED)
ianm[at]the[dash]malcolms[dot]freeserve[dot]co[dot]uk
[at]=@, [dash]=- & [dot]=. *Warning* HTML & 32K emails -- NUL