Donating camera gear - FMV or Original price paid?

1 year 1 month ago #603357 by Roy Wilson
When you donate camera gear, from a tax stand point would you happen to know if you are able to get FMV or original paid price on tax deductions? 

Canon 5D Mark II, 30D, 40D, 50 1.2L, 16-35 2.8L Mark II, 24-105 4L IS, 24-70 2.8L, 70-200 2.8L IS, 85 1.8, 4 x 580 EX(II)
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1 year 1 month ago #603394 by effron
If memory serves, its a percentage of real value. That's a question though for your tax pro, do NOT take my word for it....

Why so serious?
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1 year 1 month ago #603396 by Shadowfixer1

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1 year 1 month ago #603418 by garyrhook
What you could reasonably sell it for. Which ought to be fair market value.

This is where eBay and Amazon can be handy: in researching prices for used equipment.


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1 year 1 month ago #603443 by CanonKid
So a 3000% markup won't fly?  

LOL 

Seriously these guys said what I was going to.  Just verify with your CPA at the end of the day.  Good luck.  

Canon 7D, 15-85mm, 18-55mm, 70-200mm, 100mm Macro, Sigma 120-300mm, Speedlite 430EX II

A bad day at the race track is better than a good day in the office

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1 year 1 month ago #603531 by Don Granger
FMW on current value


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1 year 1 month ago #603766 by Todd Knight
+1 stick with FMV, ping prices on used markets.  


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