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I am wondering if I can claim a donation of two computer screens at replacement value?
If I can which form should I use? what documents are required?
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In order to take a deduction for the donation of your computer monitors, you would need to itemize your return instead of taking the standard deduction. If the total of all of your Itemized Deductions are not greater than your Standard Deduction, then you would not see any difference in your return for that donation.
Your Itemized Deductions include, charitable donations, property taxes, state and local income taxes, mortgage interest and medical expenses in excess of 7.5% of your AGI.
If you are Itemizing, you would value your monitors at market value, meaning the price you could sell them for. This would all be reported on Schedule A. You would enter it in the Deductions and Credits section of TurboTax using TurboTax Deluxe or higher.
In order to take a deduction for the donation of your computer monitors, you would need to itemize your return instead of taking the standard deduction. If the total of all of your Itemized Deductions are not greater than your Standard Deduction, then you would not see any difference in your return for that donation.
Your Itemized Deductions include, charitable donations, property taxes, state and local income taxes, mortgage interest and medical expenses in excess of 7.5% of your AGI.
If you are Itemizing, you would value your monitors at market value, meaning the price you could sell them for. This would all be reported on Schedule A. You would enter it in the Deductions and Credits section of TurboTax using TurboTax Deluxe or higher.
Any property you donate to charity is valued at the fair market value-- what a buyer would pay a seller in an open sale for the same or similar item in the same or similar condition. A used monitor does not have the same value as a new monitor. To find values of used computer equipment you might review Facebook Marketplace, eBay, or similar web sites.
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