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November 19, 2022
Question

Equipment contributions to 501(c)3

  • November 19, 2022
  • 1 reply
  • 0 views

I've purchased a large quantity of equipment for my local ministry, however I have confusion as to the amount I can deduct from my 2022 taxes.  The equipment was purchased new and installed out of box.  Can the entire purchase price be deducted or does it have to follow the donations schedule where you would only get like $300 for a 55+" TV.  Or would it fall under the appraisal rules?

1 reply

Critter-3
November 20, 2022

You can use the purchase price since you bought them new and immediately donated them.