Toy Donations

#6 12-20-2007, 12:34 PM

"Harlan Lunsford" <hnslunsford[at]bellsouth.net> wrote in message
news:zMdaj.3935$L27.3506[at]bignews9.bellsouth.net...
- quote -

> D. Stussy wrote:
> > "Harlan Lunsford" <hnslunsford[at]bellsouth.net> wrote in message
> > news:RjW9j.33319$rc2.2405[at]bignews1.bellsouth.net...
> > > Just saw a story on FNN about charities tossing away perfectly good
toys
> > > donated for Christmas time. Of course the donors get the tax deduction
> > > because the toys are in "good" condition as IRS now mandates.
> > > > > Trouble is, these are new toys made in China and contain lead based
> > paints.
> > > Next thing you know the tax law will be changed to add to the "good"
> > > condition requirement that all items be environmentally safe.
> > > That's interesting: A deduction for the donation of HAZARDOUS
MATERIALS!
> > Technically, isn't that also tax fraud?
> > How could that be considered tax fraud? Where is it written in the IRC?
> (It's the thought that counts! grin)

IRC 6662 or 6663: Well, it's clearly at least an overvaluation if not
fraud. There is no FMV as a toy for the object - just hazardous disposal
costs.

#5 12-19-2007, 05:55 PM

Seth wrote:
- quote -

> In article <RjW9j.33319$rc2.2405[at]bignews1.bellsouth.net> ,
> Harlan Lunsford <hnslunsford[at]bellsouth.net> wrote:
> > Just saw a story on FNN about charities tossing away perfectly good toys
> > donated for Christmas time. Of course the donors get the tax deduction
> > because the toys are in "good" condition as IRS now mandates.
> > > Trouble is, these are new toys made in China and contain lead based paints.
> What is the Fair Market Value of such a toy?
> $0 or less, I'd say.

To one knowledgeable, yes, zero. But not to everyone. Fair market
value is defined as....... (etc

Christmas ChEAr$,
Harlan Lunsford, EA n LA

#4 12-19-2007, 05:53 PM

D. Stussy wrote:
- quote -

> "Harlan Lunsford" <hnslunsford[at]bellsouth.net> wrote in message
> news:RjW9j.33319$rc2.2405[at]bignews1.bellsouth.net...
> > Just saw a story on FNN about charities tossing away perfectly good toys
> > donated for Christmas time. Of course the donors get the tax deduction
> > because the toys are in "good" condition as IRS now mandates.
> > > Trouble is, these are new toys made in China and contain lead based
> paints.
> > Next thing you know the tax law will be changed to add to the "good"
> > condition requirement that all items be environmentally safe.
> That's interesting: A deduction for the donation of HAZARDOUS MATERIALS!
> Technically, isn't that also tax fraud?
How could that be considered tax fraud? Where is it written in the IRC?

(It's the thought that counts! grin)

Christmas ChEAr$,
Harlan Lunsford, EA n LA

#3 12-19-2007, 03:26 PM

In article <RjW9j.33319$rc2.2405[at]bignews1.bellsouth.net> ,
Harlan Lunsford <hnslunsford[at]bellsouth.net> wrote:
- quote -

> Just saw a story on FNN about charities tossing away perfectly good toys
> donated for Christmas time. Of course the donors get the tax deduction
> because the toys are in "good" condition as IRS now mandates.
> Trouble is, these are new toys made in China and contain lead based paints.

What is the Fair Market Value of such a toy?

$0 or less, I'd say.

Seth

#2 12-19-2007, 02:23 PM

an_ordinary_guy_158[at]hotmail.com (Bill) writes:
- quote -

> Since all major chains are offering refunds for "recalled toys,"
> wouldn't it be sensible for charities to "cash in" any recalled items?
> Can't be bothered? That's what volunteers are for, isn't it?

Typically, chains don't give cash refunds without a receipt,
and typically, people who donate toys to charities don't
include the store receipt with the donation.

--
Help stop the genocide in Darfur!
http://www.genocideintervention.net/

#1 12-19-2007, 02:00 PM

spam[at]bde-arc.ampr.org (D.*Stussy) posted:

- quote -

> "Harlan Lunsford"
> <hnslunsford[at]bellsouth.net> wrote in
> message
> > news:RjW9j.33319$rc2.2405[at]bignews1.bell
> > south.net...

> > Just saw a story on FNN about charities
> > tossing away perfectly good toys donated for
> > Christmas time. Of course the donors get the
> > tax deduction because the toys are in "good"
> > condition as IRS now mandates.
> > Trouble is, these are new toys made in China
> > and contain lead based paints.
> > Next thing you know the tax law will be
> > changed to add to the "good" condition
> > requirement that all items be environmentally
> > safe.

> That's interesting: A deduction for the
> donation of HAZARDOUS MATERIALS!
> Technically, isn't that also tax fraud?

Since all major chains are offering refunds for "recalled toys,"
wouldn't it be sensible for charities to "cash in" any recalled items?

Can't be bothered? That's what volunteers are for, isn't it?

Bill

12-19-2007, 02:36 AM

"Harlan Lunsford" <hnslunsford[at]bellsouth.net> wrote in message
news:RjW9j.33319$rc2.2405[at]bignews1.bellsouth.net...
- quote -

> Just saw a story on FNN about charities tossing away perfectly good toys
> donated for Christmas time. Of course the donors get the tax deduction
> because the toys are in "good" condition as IRS now mandates.
> Trouble is, these are new toys made in China and contain lead based
paints.
> Next thing you know the tax law will be changed to add to the "good"
> condition requirement that all items be environmentally safe.

That's interesting: A deduction for the donation of HAZARDOUS MATERIALS!
Technically, isn't that also tax fraud?

#-1 12-18-2007, 07:47 PM

Just saw a story on FNN about charities tossing away perfectly good toys
donated for Christmas time. Of course the donors get the tax deduction
because the toys are in "good" condition as IRS now mandates.

Trouble is, these are new toys made in China and contain lead based paints.

Next thing you know the tax law will be changed to add to the "good"
condition requirement that all items be environmentally safe.

Christmas ChEAr$,
Harlan Lunsford, EA n LA

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