tax deductible donation

[Ron]

An elderly couple own bonds issued by a Latin American government.
The couple can show provenance and authenticity of the bonds. They
were informed it will take several years and large legal fees to
pursue collecting on the bonds.

If they donate the bonds to charity will they be able to take a tax
credit for a portion of the value. How can they professionally
establish a market value. Is there a way to obtain a prior IRS ruling
on the value.

[ChrisZ]

It appears the bonds are uncollectible or worthless so their value as a
tax deduction may be minimal. You could take them to a bond specialist to
get an estimate before paying for a "fair maket value" appraisal which is
what you would need to get a tax deduction.

--
Message posted using http://www.talkabouttaxes.com/group/misc.taxes/
More information at http://www.talkabouttaxes.com/faq.html