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Hearing aids donation to Lions Club tax deductable?
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hrho...@sbcglobal.net
Nov 4, 2014, 10:50:04 PM11/4/14
to
My wife donated her older hearing aids to the local Lions Club hearing aid collection drive. She has new ones with fancier features and more volume. We also donated several dollars worth of batteries to go with the aids. If we had kept the aids and batteries, we could have gotten a $100.00 dollar reduction in price on new aids and batteries. Can we take a $100.00 tax deduction?
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<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2011) - All rights reserved. >>
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ira smilovitz
Nov 5, 2014, 12:45:04 PM11/5/14
to
On Tuesday, November 4, 2014 10:50:04 PM UTC-5, hrho...@sbcglobal.net wrote:
> My wife donated her older hearing aids to the local Lions Club hearing aid collection drive. She has new ones with fancier features and more volume. We also donated several dollars worth of batteries to go with the aids. If we had kept the aids and batteries, we could have gotten a $100.00 dollar reduction in price on new aids and batteries. Can we take a $100.00 tax deduction?
>
> --
Maybe. Your deduction is limited to the lower of FMV or your cost basis in the hearing aids/batteries. FMV is not the $100 trade-in value, but the amount that an independent buyer would pay for the used hearing aids and batteries. This could be more or less than $100. Additionally, your cost basis might be less than $100 to the extent that the original purchase price was reimbursed by your medical insurance.
> My wife donated her older hearing aids to the local Lions Club hearing aid collection drive. She has new ones with fancier features and more volume. We also donated several dollars worth of batteries to go with the aids. If we had kept the aids and batteries, we could have gotten a $100.00 dollar reduction in price on new aids and batteries. Can we take a $100.00 tax deduction?
>
> --
Ira Smilovitz
hrho...@sbcglobal.net
Nov 5, 2014, 6:55:03 PM11/5/14
to
Our cost basis was in the thousands of dollars. The resale value of the aids is probably $250, maybe more, but we didn't want to go thru the headaches of the resale process.
W. Baker
Nov 5, 2014, 9:50:02 PM11/5/14
to
hrho...@sbcglobal.net <hrho...@sbcglobal.net> wrote:
: Our cost basis was in the thousands of dollars. The resale value of the aids is probably $250, maybe more, but we didn't want to go thru the headaches of the resale process.
: --
So you donated them, which was admirable. You should still be able to
claim the resale value. that is what all the people who donate cars are
supposed to do. Just because you didn't take the trouble to sell them and
collect the money doesn't mean that was not the value of the gift. If I
had a anting that I could sel for $1,000000 but I gave it to themuseum
instead, I could still claim the gift deduction of $1,000,000 as long as I
have enough income (over $1,000,000 a year, to deduct it from.
Wendy Baker
: Our cost basis was in the thousands of dollars. The resale value of the aids is probably $250, maybe more, but we didn't want to go thru the headaches of the resale process.
: --
So you donated them, which was admirable. You should still be able to
claim the resale value. that is what all the people who donate cars are
supposed to do. Just because you didn't take the trouble to sell them and
collect the money doesn't mean that was not the value of the gift. If I
had a anting that I could sel for $1,000000 but I gave it to themuseum
instead, I could still claim the gift deduction of $1,000,000 as long as I
have enough income (over $1,000,000 a year, to deduct it from.
Wendy Baker
Barry Margolin
Nov 6, 2014, 10:30:03 AM11/6/14
to
In article <m3enbk$ppd$1...@reader1.panix.com>,
> instead, I could still claim the gift deduction of $1,000,000 as long as I
> have enough income (over $1,000,000 a year, to deduct it from.
Actually, you'd need over $2 million dollars, since charitable
deductions are limited to 50% of your AGI (except for certain types of
organizations, which are limited to 30%).
--
Barry Margolin
Arlington, MA
"W. Baker" <wba...@panix.com> wrote:
> hrho...@sbcglobal.net <hrho...@sbcglobal.net> wrote:
> : Our cost basis was in the thousands of dollars. The resale value of the
> aids is probably $250, maybe more, but we didn't want to go thru the
> headaches of the resale process.
>
> : --
>
> So you donated them, which was admirable. You should still be able to
> claim the resale value. that is what all the people who donate cars are
> supposed to do. Just because you didn't take the trouble to sell them and
> collect the money doesn't mean that was not the value of the gift. If I
> had a anting that I could sel for $1,000000 but I gave it to themuseum
"a anting"? Is that a painting?
> hrho...@sbcglobal.net <hrho...@sbcglobal.net> wrote:
> : Our cost basis was in the thousands of dollars. The resale value of the
> aids is probably $250, maybe more, but we didn't want to go thru the
> headaches of the resale process.
>
> : --
>
> So you donated them, which was admirable. You should still be able to
> claim the resale value. that is what all the people who donate cars are
> supposed to do. Just because you didn't take the trouble to sell them and
> collect the money doesn't mean that was not the value of the gift. If I
> had a anting that I could sel for $1,000000 but I gave it to themuseum
> instead, I could still claim the gift deduction of $1,000,000 as long as I
> have enough income (over $1,000,000 a year, to deduct it from.
deductions are limited to 50% of your AGI (except for certain types of
organizations, which are limited to 30%).
--
Barry Margolin
Arlington, MA
Pico Rico
Nov 6, 2014, 11:10:03 AM11/6/14
to
"Barry Margolin" <bar...@alum.mit.edu> wrote in message
news:barmar-53C161....@88-209-239-213.giganet.hu...
> In article <m3enbk$ppd$1...@reader1.panix.com>,
> "W. Baker" <wba...@panix.com> wrote:
>
>> hrho...@sbcglobal.net <hrho...@sbcglobal.net> wrote:
>> : Our cost basis was in the thousands of dollars. The resale value of
>> the
>> aids is probably $250, maybe more, but we didn't want to go thru the
>> headaches of the resale process.
>>
>> : --
>>
>> So you donated them, which was admirable. You should still be able to
>> claim the resale value. that is what all the people who donate cars are
>> supposed to do. Just because you didn't take the trouble to sell them
>> and
>> collect the money doesn't mean that was not the value of the gift. If I
>> had a anting that I could sel for $1,000000 but I gave it to themuseum
>
> "a anting"? Is that a painting?
>
>> instead, I could still claim the gift deduction of $1,000,000 as long as
>> I
>> have enough income (over $1,000,000 a year, to deduct it from.
>
> Actually, you'd need over $2 million dollars, since charitable
> deductions are limited to 50% of your AGI (except for certain types of
> organizations, which are limited to 30%).
>
but excess can be carried over to future years, at least for a time.
> "W. Baker" <wba...@panix.com> wrote:
>
>> hrho...@sbcglobal.net <hrho...@sbcglobal.net> wrote:
>> : Our cost basis was in the thousands of dollars. The resale value of
>> the
>> aids is probably $250, maybe more, but we didn't want to go thru the
>> headaches of the resale process.
>>
>> : --
>>
>> So you donated them, which was admirable. You should still be able to
>> claim the resale value. that is what all the people who donate cars are
>> supposed to do. Just because you didn't take the trouble to sell them
>> and
>> collect the money doesn't mean that was not the value of the gift. If I
>> had a anting that I could sel for $1,000000 but I gave it to themuseum
>
> "a anting"? Is that a painting?
>
>> instead, I could still claim the gift deduction of $1,000,000 as long as
>> I
>> have enough income (over $1,000,000 a year, to deduct it from.
>
> Actually, you'd need over $2 million dollars, since charitable
> deductions are limited to 50% of your AGI (except for certain types of
> organizations, which are limited to 30%).
>
W. Baker
Nov 6, 2014, 12:45:03 PM11/6/14
to
lotax
Nov 7, 2014, 4:01:53 PM11/7/14
to
"My wife donated her older hearing aids to the local Lions Club hearing aid collection drive."
Is the Lions Club a charity? I doubt it. Better check the organization's charitable bona fides.
Barry Margolin
Nov 7, 2014, 8:15:03 PM11/7/14
to
In article <ba4066b5-225c-48fb...@googlegroups.com>,
https://www.lcif.org/EN/ways-to-give/donate-now.php:
The Foundation is a non profit, tax-exempt organization, as described in
Section 501(c)(3) of the U.S. Internal Revenue Code. Donations are tax
deductible, as allowed under the Internal Revenue Service code.
--
Barry Margolin
Arlington, MA
lotax <lo...@hotmail.com> wrote:
> "My wife donated her older hearing aids to the local Lions Club hearing aid
> collection drive."
>
> Is the Lions Club a charity? I doubt it. Better check the organization's
> charitable bona fides.
Lions Club International Foundation is a charity. From
> "My wife donated her older hearing aids to the local Lions Club hearing aid
> collection drive."
>
> Is the Lions Club a charity? I doubt it. Better check the organization's
> charitable bona fides.
https://www.lcif.org/EN/ways-to-give/donate-now.php:
The Foundation is a non profit, tax-exempt organization, as described in
Section 501(c)(3) of the U.S. Internal Revenue Code. Donations are tax
deductible, as allowed under the Internal Revenue Service code.
--
Barry Margolin
Arlington, MA
Pico Rico
Nov 7, 2014, 10:45:03 PM11/7/14
to
news:barmar-FB1D07....@88-209-239-213.giganet.hu...
make sure exactly who you are donating to.
"Memorial and Personal Contributions
The general public may assume that
when they make a specific donation to
your Lions Club that it is automatically
tax-deductible. This is not the case if
your club does not have the tax-exempt
status."
www.uitti.net/ctlions/CTcharities.pdf
> In article <ba4066b5-225c-48fb...@googlegroups.com>,
> lotax <lo...@hotmail.com> wrote:
>
>> "My wife donated her older hearing aids to the local Lions Club hearing
>> aid
>> collection drive."
>>
>> Is the Lions Club a charity? I doubt it. Better check the organization's
>> charitable bona fides.
>
> Lions Club International Foundation is a charity. From
> https://www.lcif.org/EN/ways-to-give/donate-now.php:
>
> The Foundation is a non profit, tax-exempt organization, as described in
> Section 501(c)(3) of the U.S. Internal Revenue Code. Donations are tax
> deductible, as allowed under the Internal Revenue Service code.
>
but local Lion's Clubs may or may not have 501(c)(3) status. You need to
> lotax <lo...@hotmail.com> wrote:
>
>> "My wife donated her older hearing aids to the local Lions Club hearing
>> aid
>> collection drive."
>>
>> Is the Lions Club a charity? I doubt it. Better check the organization's
>> charitable bona fides.
>
> Lions Club International Foundation is a charity. From
> https://www.lcif.org/EN/ways-to-give/donate-now.php:
>
> The Foundation is a non profit, tax-exempt organization, as described in
> Section 501(c)(3) of the U.S. Internal Revenue Code. Donations are tax
> deductible, as allowed under the Internal Revenue Service code.
>
make sure exactly who you are donating to.
"Memorial and Personal Contributions
The general public may assume that
when they make a specific donation to
your Lions Club that it is automatically
tax-deductible. This is not the case if
your club does not have the tax-exempt
status."
www.uitti.net/ctlions/CTcharities.pdf
Stuart A. Bronstein
Nov 8, 2014, 2:15:04 AM11/8/14
to
"Pico Rico" <Pico...@nonospam.com> wrote:
> "Barry Margolin" <bar...@alum.mit.edu> wrote
instead of 501(c)(3). They don't pay taxes on their income related
to their exempt purpose, but donations to them are not deductible.
Barry is talking about the Lion's Club Foundation, probably set up
for the specific purpose of being a 501(c)(3) that works in
conjunction with the local Lion's Clubs.
--
Stu
http://DownToEarthLawyer.com
> "Barry Margolin" <bar...@alum.mit.edu> wrote
>> lotax <lo...@hotmail.com> wrote:
>>
>>> "My wife donated her older hearing aids to the local Lions
>>> Club hearing aid collection drive."
>>>
>>> Is the Lions Club a charity? I doubt it. Better check the
>>> organization's charitable bona fides.
>>
>> Lions Club International Foundation is a charity. From
>> https://www.lcif.org/EN/ways-to-give/donate-now.php:
>>
>> The Foundation is a non profit, tax-exempt organization, as
>> described in Section 501(c)(3) of the U.S. Internal Revenue
>> Code. Donations are tax deductible, as allowed under the
>> Internal Revenue Service code.
>
> but local Lion's Clubs may or may not have 501(c)(3) status.
> You need to make sure exactly who you are donating to.
Local Lion's Clubs are probably tax exempt, but under 501(c)(8)
>>
>>> "My wife donated her older hearing aids to the local Lions
>>> Club hearing aid collection drive."
>>>
>>> Is the Lions Club a charity? I doubt it. Better check the
>>> organization's charitable bona fides.
>>
>> Lions Club International Foundation is a charity. From
>> https://www.lcif.org/EN/ways-to-give/donate-now.php:
>>
>> The Foundation is a non profit, tax-exempt organization, as
>> described in Section 501(c)(3) of the U.S. Internal Revenue
>> Code. Donations are tax deductible, as allowed under the
>> Internal Revenue Service code.
>
> but local Lion's Clubs may or may not have 501(c)(3) status.
> You need to make sure exactly who you are donating to.
instead of 501(c)(3). They don't pay taxes on their income related
to their exempt purpose, but donations to them are not deductible.
Barry is talking about the Lion's Club Foundation, probably set up
for the specific purpose of being a 501(c)(3) that works in
conjunction with the local Lion's Clubs.
--
Stu
http://DownToEarthLawyer.com
Pico Rico
Nov 8, 2014, 11:55:04 AM11/8/14
to
"Stuart A. Bronstein" <spam...@lexregia.com> wrote in message
news:XnsA3DEEC2C74F85s...@130.133.4.11...
> "Pico Rico" <Pico...@nonospam.com> wrote:
>> "Barry Margolin" <bar...@alum.mit.edu> wrote
>>> lotax <lo...@hotmail.com> wrote:
>>>
>>>> "My wife donated her older hearing aids to the local Lions
>>>> Club hearing aid collection drive."
>>>>
>>>> Is the Lions Club a charity? I doubt it. Better check the
>>>> organization's charitable bona fides.
>>>
>>> Lions Club International Foundation is a charity. From
>>> https://www.lcif.org/EN/ways-to-give/donate-now.php:
>>>
>>> The Foundation is a non profit, tax-exempt organization, as
>>> described in Section 501(c)(3) of the U.S. Internal Revenue
>>> Code. Donations are tax deductible, as allowed under the
>>> Internal Revenue Service code.
>>
>> but local Lion's Clubs may or may not have 501(c)(3) status.
>> You need to make sure exactly who you are donating to.
>
> Local Lion's Clubs are probably tax exempt, but under 501(c)(8)
> instead of 501(c)(3). They don't pay taxes on their income related
> to their exempt purpose, but donations to them are not deductible.
>
> Barry is talking about the Lion's Club Foundation, probably set up
> for the specific purpose of being a 501(c)(3) that works in
> conjunction with the local Lion's Clubs.
>
yes, that is why you need to make sure exactly WHO you are donating to when
>> "Barry Margolin" <bar...@alum.mit.edu> wrote
>>> lotax <lo...@hotmail.com> wrote:
>>>
>>>> "My wife donated her older hearing aids to the local Lions
>>>> Club hearing aid collection drive."
>>>>
>>>> Is the Lions Club a charity? I doubt it. Better check the
>>>> organization's charitable bona fides.
>>>
>>> Lions Club International Foundation is a charity. From
>>> https://www.lcif.org/EN/ways-to-give/donate-now.php:
>>>
>>> The Foundation is a non profit, tax-exempt organization, as
>>> described in Section 501(c)(3) of the U.S. Internal Revenue
>>> Code. Donations are tax deductible, as allowed under the
>>> Internal Revenue Service code.
>>
>> but local Lion's Clubs may or may not have 501(c)(3) status.
>> You need to make sure exactly who you are donating to.
>
> Local Lion's Clubs are probably tax exempt, but under 501(c)(8)
> instead of 501(c)(3). They don't pay taxes on their income related
> to their exempt purpose, but donations to them are not deductible.
>
> Barry is talking about the Lion's Club Foundation, probably set up
> for the specific purpose of being a 501(c)(3) that works in
> conjunction with the local Lion's Clubs.
>
you donate "to the Lion's Club".
Stuart A. Bronstein
Nov 8, 2014, 12:55:04 PM11/8/14
to
>> Local Lion's Clubs are probably tax exempt, but under 501(c)(8)
>> instead of 501(c)(3). They don't pay taxes on their income
>> related to their exempt purpose, but donations to them are not
>> deductible.
>>
>> Barry is talking about the Lion's Club Foundation, probably set
>> up for the specific purpose of being a 501(c)(3) that works in
>> conjunction with the local Lion's Clubs.
>
> yes, that is why you need to make sure exactly WHO you are
> donating to when you donate "to the Lion's Club".
Yes, you really do need to be careful because your gift could end
>> instead of 501(c)(3). They don't pay taxes on their income
>> related to their exempt purpose, but donations to them are not
>> deductible.
>>
>> Barry is talking about the Lion's Club Foundation, probably set
>> up for the specific purpose of being a 501(c)(3) that works in
>> conjunction with the local Lion's Clubs.
>
> yes, that is why you need to make sure exactly WHO you are
> donating to when you donate "to the Lion's Club".
up going to the wrong place if you aren't. I just downloaded the
list of approved charities from the IRS website, and it runs 21,000
pages, so there are bound to be similari
I remember one case some years ago where a woman left $5 million
"to the University of Southern California, also known as UCLA."
That caused all sorts of problems.
--
Stu
http://DownToEarthLawyer.com
brian...@verizon.net
Nov 8, 2014, 1:01:56 PM11/8/14
to
> yes, that is why you need to make sure exactly WHO you are donating to when
> you donate "to the Lion's Club".
Pico Rico
Nov 8, 2014, 1:50:03 PM11/8/14
to
"Stuart A. Bronstein" <spam...@lexregia.com> wrote in message
news:XnsA3DF644362C78s...@130.133.4.11...
> "Pico Rico" <Pico...@nonospam.com> wrote:
>> "Stuart A. Bronstein" <spam...@lexregia.com> wrote
>
>>> Local Lion's Clubs are probably tax exempt, but under 501(c)(8)
>>> instead of 501(c)(3). They don't pay taxes on their income
>>> related to their exempt purpose, but donations to them are not
>>> deductible.
>>>
>>> Barry is talking about the Lion's Club Foundation, probably set
>>> up for the specific purpose of being a 501(c)(3) that works in
>>> conjunction with the local Lion's Clubs.
>>
>> yes, that is why you need to make sure exactly WHO you are
>> donating to when you donate "to the Lion's Club".
>
> Yes, you really do need to be careful because your gift could end
> up going to the wrong place if you aren't. I just downloaded the
> list of approved charities from the IRS website, and it runs 21,000
> pages, so there are bound to be similari
searching on the IRS website, I find 506 "lions clubs" that are exempt
>> "Stuart A. Bronstein" <spam...@lexregia.com> wrote
>
>>> Local Lion's Clubs are probably tax exempt, but under 501(c)(8)
>>> instead of 501(c)(3). They don't pay taxes on their income
>>> related to their exempt purpose, but donations to them are not
>>> deductible.
>>>
>>> Barry is talking about the Lion's Club Foundation, probably set
>>> up for the specific purpose of being a 501(c)(3) that works in
>>> conjunction with the local Lion's Clubs.
>>
>> yes, that is why you need to make sure exactly WHO you are
>> donating to when you donate "to the Lion's Club".
>
> Yes, you really do need to be careful because your gift could end
> up going to the wrong place if you aren't. I just downloaded the
> list of approved charities from the IRS website, and it runs 21,000
> pages, so there are bound to be similari
organizations.
>
> I remember one case some years ago where a woman left $5 million
> "to the University of Southern California, also known as UCLA."
> That caused all sorts of problems.
>
Pico Rico
Nov 8, 2014, 1:50:03 PM11/8/14
to
<brian...@verizon.net> wrote in message
news:e7e59729-989e-4c2d...@googlegroups.com...
>
>> yes, that is why you need to make sure exactly WHO you are donating to
>> when
>> you donate "to the Lion's Club".
>
> As a receipt or acknowledgement is required for all in-kind donations, the
> original poster should be able to look at the one received to insure it is
> to a charitable organization.
That could be the equivalent of closing the barn door after the horse has
>> yes, that is why you need to make sure exactly WHO you are donating to
>> when
>> you donate "to the Lion's Club".
>
> As a receipt or acknowledgement is required for all in-kind donations, the
> original poster should be able to look at the one received to insure it is
> to a charitable organization.
left. A donor needs to check beforehand.
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