Donation of windows

[jkerrl]

I purchased $40k worth of windows for my home.  There were fires near our house, but we weren't affected.Our insurance company replaced my windows due to the heat voiding the warranty on the windows, , even though they are fine and unaffected and less than 1 year old.  We donated them to Resource - a 501c3 that take building materials and resells them. 

Are these windows tax deductible?  If so, since they are like new and worth $40k, would it be at that value?

Thanks

[DawnC · Accepted solution]

They are charitable contributions.    However, you can't deduct any amounts that are reimbursed to you from insurance.   If you were reimbursed for all of the items, then none are deductible.    Any windows you were not reimbursed for can be entered as a charitable donation.    You must itemize to see any tax benefit from itemized deductions.   

To figure how much you may deduct for property that you contribute, you must first determine its fair market value on the date of the contribution.

Fair market value (FMV) is the price that property would sell for on the open market. It is the price that would be agreed on between a willing buyer and a willing seller, with neither being required to act, and both having reasonable knowledge of the relevant facts. If you put a restriction on the use of property you donate, the FMV must reflect that restriction.