I just donated 50 years (1965-1915) of magazines to the Library. How can I claim a legitimate deduction?
I don't know how it works in the United States, but here in Canada if I donated to the library than I would just submit the donation tax receipt that the library gave me.
I have used my Guide to Selling, et. al, (see newest revision posted below) to estimate value of donations for Schedule A, and for insurance purposes.
The insurance company complemented me on the details of my data collection (and annual revisions) and validated the worth of "replacement" at higher than the average eBay sale.
I believe if you kept a printout of this year's Guide with your tax paperwork you should be confident of answering any questions from the IRS. To make sure, you might want to show the documentation to a tax preparer and ask.
This is exactly what I am looking for but your message says "see newest revision posted below" and there is nothing posted below. Is this somewhere else or?? I'd like to take it to my CPA.
Thank you so much,