u/TallWall6378

▲ 5 r/tax

S Corp noncash charitable determining FMV

Contractor cleaning out my shop. I have material I no longer need, and a 503(c) rebuilding center will pick it up. Most is new unused, stuff like HVAC ducting and wood molding, unused light and plumbing fixtures.

How should I determine the FMV of the new unused stuff?

How detailed to I have to get on form 8283? Can I list 7 light fixtures valued at $700? and 800 linear feet of molding valued at $1600?

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u/TallWall6378 — 5 days ago