Tax

Have a Tax Question? Ask a Tax Expert

Ask an Expert,
Get an Answer ASAP!

Tax
This answer was rated:

If Ipurchased one thousad bookks, that I injoyed reading,

If Ipurchased one thousad...
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.
Show More
Show Less
Ask Your Own Tax Question
Answered in 21 minutes by:
7/8/2013
CGCPA
CGCPA, CPA
Category: Tax
Satisfied Customers: 3,820
Experience: over 40 years experience in tax matters
Verified

Welcome to Just Answer. I am here to help you resolve your tax and finance concerns. Please feel free to ask anytime you need extra help.

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.

CGCPA
CGCPA, CPA
Category: Tax
Satisfied Customers: 3,820
Experience: over 40 years experience in tax matters
Verified
CGCPA and 87 other Tax Specialists are ready to help you
Ask your own question now
Ask CGCPA Your Own Question
CGCPA
CGCPA
CGCPA, CPA
Category: Tax
Satisfied Customers: 3,820
3,820 Satisfied Customers
Experience: over 40 years experience in tax matters

CGCPA is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,300 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,310 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

Robin D.

Robin D.

Senior Tax Advisor 4

13,695 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,651 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

R. Klein, EA

R. Klein, EA

Enrolled Agent

1,839 satisfied customers

Over 20 Years experience

< Previous | Next >

Related Tax Questions
In Alaska operators of pull tabs are required to donate a
In Alaska operators of pull tabs are required to donate a portion of the proceeds to a 501c3 organization. Is the receipt of these donations by a 501c3 considered Unrelated Trade or Business Income? … read more
taxmanrog
taxmanrog
Master\u0027s Degree
698 satisfied customers
A person wants to set up a 501(c)3 now. Purpose is to donate
A person wants to set up a 501(c)3 now. Purpose is to donate to the 501c3 personal assets such as ira, mutual funds, home etc. Can any of the donated assets be kept in the 501c3 to generate income lik… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,463 satisfied customers
If I donate my home to my 501c3 nonprofit organization, will
If I donate my home to my 501c3 nonprofit organization, will I be in any violation of IRS tax laws. … read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,463 satisfied customers
This is about a 501c3. Can a founder or president donate to
This is about a 501c3. Can a founder or president donate to the 501c3? … read more
socrateaser
socrateaser
1,031 satisfied customers
I want to donate my car to a ministry in my Church who is
I want to donate my car to a ministry in my Church who is working with a needy family. The Church does not want to receive my title. If I turn my title directly to the needy person and the Church send… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,463 satisfied customers
I am an S-Corporation retail clothing store. Can I donate
I am an S-Corporation retail clothing store. Can I donate inventory for a tax write-off? I want to make sure that I do it the right way. I was looking it up online and it said something about S-Corps … read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,463 satisfied customers
Simple question, I think. I donated a 100 yr. old photo
Simple question, I think. I donated a 100 yr. old photo album of WW1 flying pics to the Smithsonian Inst. in DC. They are being appraised by an AAA appraiser. I have an IRA acct; can I swithch it to a… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,695 satisfied customers
Small schedule c business donates fully depreciated
small schedule c business donates fully depreciated furniture to charity. They've been told that the FMV is $1,000. What is the deduction for contributed property? … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Tax Atty or CPA only: I donated intellectual property to a
Tax Atty or CPA only: I donated intellectual property to a charity last year and as it was over $5K, had an IRS -qualified appraiser value the asset. He used the cost-to-replace method (what the chari… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
How do I report an in-kind donation of business services to
how do I report an in-kind donation of business services to a non-profit on my 1120S return? I donated business time and my programmer's time developing a piece of software and supporting it. Do I nee… read more
taxmanrog
taxmanrog
Master\u0027s Degree
698 satisfied customers
TurboTax 2016 Home and Business "Charitable Donations
TurboTax 2016 Home and Business"Charitable Donations Carryover from 2015" has an entry in the 2015 column. Do I need to copy it to 2016 column?… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,463 satisfied customers
You may recall that tax deductions are only deductible by
You may recall that tax deductions are only deductible by the legislative grace of Congress. After this lesson, you might have realized that Congress was pretty generous with the types of business exp… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,463 satisfied customers
Business charitable donation question. Our company sells
Business charitable donation question. Our company sells pre-owned medical equipment that we purchase from various sources. We are a Sub-S corp. We want to donate some equipment to a charitable organi… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
My question is this. We are a small nonprofit school. We
Hello - my question is this. We are a small nonprofit school. We offer a discounted tuition rate if families become members of an associated learning society affiliated with the school which requires … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,695 satisfied customers
I have 3 'junk' cars I want to donate for the $500 tax
I have 3 'junk' cars I want to donate for the $500 tax deduction. Would I be able to do all 3 in the same year, or should I space them out? … read more
abci168
abci168
Principal
27 satisfied customers
Ductable, is a in kind donation tax dectable, It was a
ductable JA: The Accountant will know how to help. Please tell me more, so we can help you best. Customer: is a in kind donation tax dectable JA: Is there anything else the Accountant should be aware … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,695 satisfied customers
Tax payer is a school teacher and her school pays for the
Tax payer is a school teacher and her school pays for the majority of her health insurance. Taxpayer pays $5000 for medical insurance. Her gross pay is $50,000, her net pay on her W-2 is $45,000 which… read more
ABC Accounting Group
ABC Accounting Group
Bachelor\u0027s Degree
682 satisfied customers
May I deduct - as a charitable donation - money given to an
May I deduct - as a charitable donation - money given to an adult child for medical expenses incurred because of an accident. These were expenses not met by insurance? … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x