Tax implications of Donating COmputer Equipment?

[OfficeLinebacker]

I have a few boxes with Celeron Processors in the 700MHz-1GHZ range with small HDs and Win98 loaded. I want to turn these boxes into more liquid assets. I know if you claim you've donated more than $300 to charity you need some sort of proof; could I just print out prices online for the parts? Can I claim what the prices were years ago even if I can't prove when I acquired them or how much I paid at the time? At the very least I can claim values of components now from online merchants and EBay auctions right? What about the time I spent setting them up and applying all the updates and patches?

 

[Yossarian]

hi Terry, there are a couple ways you can figure out deductions for charitable donations. I recommend you check the stickied tax thread and ask the pros in there.

 

[DrPizza]

I'd think that the money you would get by selling them would exceed the tax savings.

 

[OfficeLinebacker]

Thanks guys and yeah I'm thinking I won't be able to claim 2.5x the market price, (assuming a 40% tax rate) but it's worth a try. Plus it will go to a good cause.

JC