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11 24th January 13:50
mike
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Posts: 1
Default How do I determine value of donated hearing aids? (aids)


In <7903dafe.0312171201.524307a5@posting.google.com>,
montag2001us@yahoo.com (jp) writes:

1. They aren't worthless.
2. Regardless of what the inflated egos say, the
industry is loaded with large markup upon large
markup which does reduce the value of these aids.
A pair of refurbished digitals (based on 90 day returns)
can roll out of the manufacturer at under $1000 and
that number is known to the IRS. (My first ****ogs
were refurbs from turn-ins that some one else
didn't want.)

Propose this to your tax preparer: Figure that the
internal electronics were worth $500 per aid when
new and have a 5 year life. Using straight line
depreciation the "salvage value" is $ 200 each.
Assuming that the recipient was charitable/non-profit
the IRS probably wouldn't argue with a $ 400
charitable deduction. You might consider a higher
valuation on the electronics but stretching the
economic life probably won't sell.

Keep the original receipt showing $ 6000 as the new
price--claim less than 1/10 of that and you should do
OK--even if your return has lots of other "trip-wires."

Regards, "Mike"
-- mikeellison3***atzzzyahoo.com --
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12 24th January 13:50
mike
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Posts: 1
Default How do I determine value of donated hearing aids?


In <6h53uvg9or97b31pns2bfp8073g52fnldn@4ax.com>, Sordo ™ <sordo@netzero.net> writes:


Hmmm, thanks for the clue. As a newcomer, I
hadn't formed an opinion. Let's see, I just hit
the Shift+K combination and it's, "hello blockfile."

Thanks, "Mike"
-- mikeellison3***atzzzyahoo.com --
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13 24th January 13:50
thos. jefferson
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Posts: 1
Default How do I determine value of donated hearing aids?


<sordo@netzero.net> writes:


Nice try, Sordo/John Fuller, but I recognize your hateful malice.

Michael
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14 24th January 13:50
thos. jefferson
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Posts: 1
Default How do I determine value of donated hearing aids? (aids)


These are three year old aids, which have no value. I fail to understand why
you would go to so much trouble to cause this fellow to risk a fine by the
IRS.
Makes no sense, unless, as I have proved, you are actually Sordo/John
Fuller, a guy who loves to attempt character assassination.

And I thought it was only me you hate, turns out it's the whole world.

Michael
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15 24th January 13:50
oohrah!
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Posts: 1
Default How do I determine value of donated hearing aids? (aids)


<<Sigh>>

It does not matter how old they are. What matters ethically and to the IRS
is their equivalent value in dollars -- and "value" is what a buyer will
pay. If you can demonstrate that at the time of donation similar aids sold
for $500 on eBay, that's the value for tax purposes and the IRS will be
happy with it.
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16 24th January 13:50
thos. jefferson
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Posts: 1
Default How do I determine value of donated hearing aids? (aids)


False information. The aids have no value to a grandson, but only to the
wearer.
If he can get $500 on EBay he should go for it.
Tax deduction?
Not!

Michael
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17 24th January 13:51
hle
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Posts: 1
Default How do I determine value of donated hearing aids?


Michael

Sorry, Michael, you yet again persist in your ignorance.

1. IRS recognition of a donation's fair market value is well-established;
the challenge is to arrive at a defensible number. Problems arise when an
appraiser picks numbers for a painting or antique, but *never* when market
value is determined at an equilibrium marketplace such as eBay.

2. The components within an aid can be repackaged, and probably should be if
the specs are suitable to a given application.
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18 24th January 13:51
thos. jefferson
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Posts: 1
Default How do I determine value of donated hearing aids? (down)


Wrong, wrong, wrong! Why do you persist in this stupid game? Your childish,
spiteful hatred of me forces you to lie to a man who only wants to do the
right thing. There is no tax deduction for the non-existent value of a 3
year old, used, custom hearing aid. Why do you think the responsible party,
the original dispensing clinic, refused to give him one? Many of us have
traveled down this road and know the facts. You and that classless Oprah!
(like his fellow nameless fraud, Sordo/John Fuller) are vengeful brats, only
wanting to spew your venom.
Go ahead, guys, give him poor advice. He will probably be okay.
Hope he isn't audited!
You will not be there when he is and you will not have to 'splain and pay
the fine.
Frauds to the end.
Maybe he can show your infantile posts to the IRS.

Michael
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19 25th January 07:04
rnf2
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Posts: 1
Default How do I determine value of donated hearing aids?


<SNIP>

Simple answer to this question... ring the IRS helpline and ask the
operator, with a tape recorder playing, then do as the operator says, and if
the assesors/auditors of your tax return disagree play them the tape and let
them take it up with their own help line.

rhys
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20 25th January 07:04
sordo ™
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Posts: 1
Default How do I determine value of donated hearing aids?


The pathetic paranoid sniveling and whining of an
outted narcissistic serial bully know-it-all.
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