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Category: Tax
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If Ipurchased one thousad bookks, that I injoyed reading,

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If Ipurchased one thousad bookks, that I injoyed reading, and I then sent those books to hospitals,retirerment home and schools at no cost to them. Could I then write the purchase off as a tax deduction.

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Yes, you would be entitled to a tax deduction. However, your contribution deduction would be limited to the lower of the cost or fair market value of the now used books. You would also need a valuation and receipt document from the recipient(s) of your donation.

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