@Mike9241 Thanks for the insight. Could you please explain a little more about what does it mean by "it has not been previously depreciated"? Some of the computers were in personal use before it was contributed to the company. Let's say a computer has a 5-year life and I used it for 2 years before contributing it. Should I recognize the value of this asset as 3/5 of the original purchase price X? Or should I check the market value (Y) of the computer in its secondhand condition on eBay or Amazon as the contributed value? Alternatively, should the recognized value be the minimum of 3/5*X and Y, with a residual life of 2 years?
