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    reneschafer's Avatar
    reneschafer Posts: 1, Reputation: 1
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    #1

    Jan 14, 2009, 10:45 AM
    Tax Deductions
    I donated 42 CD-Rom's to the local library and I need to know how to calculate the fair market value, for my tax deduction.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Jan 14, 2009, 03:09 PM
    If you bought the same CDs at your local thrift or second-hand store, what would you pay for them?

    That is their Fair Market Value, and that is what you can claim as a charitable donation on Schedule A.
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