Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Ask the Experts about the new tax laws! >> Event happening TODAY!
cancel
Showing results for 
Search instead for 
Did you mean: 
trekangel
New Member

I donated a power wheelchair that medicare partially purchased for my late husband. Do I deduct the full market value or can I only deduct our out-of-pocket expenses?

The charitable organization that is getting the wheelchair obtained a price list from the vendor in order to determine value.  

1 Best answer

Accepted Solutions
PaulaM
Expert Alumni

I donated a power wheelchair that medicare partially purchased for my late husband. Do I deduct the full market value or can I only deduct our out-of-pocket expenses?

In general for donations of non-cash property to qualified charity organizations, the fair market value of the property is used for the deduction.

https://www.irs.gov/newsroom/eight-tips-for-deducting-charitable-contributions

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
PaulaM
Expert Alumni

I donated a power wheelchair that medicare partially purchased for my late husband. Do I deduct the full market value or can I only deduct our out-of-pocket expenses?

In general for donations of non-cash property to qualified charity organizations, the fair market value of the property is used for the deduction.

https://www.irs.gov/newsroom/eight-tips-for-deducting-charitable-contributions

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Dynamic AdsDynamic Ads
Privacy Settings
v