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Qustion? Has Anyone Ever Donated Display?


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Over the years my wife and I have amessed a lot of lights, display items and of course LOR units, we have now reached the age where it is becoming harder to put it up and take it down and store it.  While we are still interested and able to do it and  able to help them we are thinking about donateing our whole display to a local childerns home to allow them to set it up and take donations or even charge to go through, they have a wonderful site to display everything.  We do not have any childern to take it over and feel this would be a way of keeping the display going for years to come.  I have been told we could take it off our tax's as a donation to a 5013c/a but really don't know all about that.  My question is:

1. Has anyone ever done this or checked into it?

2. If we do, what is it worth?

3. How would we show it on tax's

 

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I would suggest you consult a tax advisor.  In the last few years, the IRS has cracked down on the valuation of donations of used merchandise.  A tax advisor should be able to help establish the correct value.

Have meet with our tax advisor and he told us we need to put a value on things.  We know what the LOR units are worth and all the  lights that have never used its the other things that have me wondering about.  3 mega tree's, 21 arches, 12x24 ft rear screen with frameing, 24 mini trees, 48 large poll hanging candy canes, Santa's, deer etc.  Most everything is three to four years old.  Know that work will have to be done on most of the lights as is with every year but all are in working order.  We also know you can not count any time spent building everything. 

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Have meet with our tax advisor and he told us we need to put a value on things.  We know what the LOR units are worth and all the  lights that have never used its the other things that have me wondering about.  3 mega tree's, 21 arches, 12x24 ft rear screen with frameing, 24 mini trees, 48 large poll hanging candy canes, Santa's, deer etc.  Most everything is three to four years old.  Know that work will have to be done on most of the lights as is with every year but all are in working order.  We also know you can not count any time spent building everything. 

 

I would figure out what it would cost to build all of the rest of your items like the mega tress, arches now and take 25% off of that. That would be the value I gave to the tax adviser.

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