<VV> Collectible for Sale in FL - no Corvair

[FrankCB at aol.com]

According to my interpretation of the Federal Tax Law, if you feel it's  
worth only $500 (or less) you don't need an appraisal to take $500 deduction 
on  your Federal Income Tax return.  Just arrange to have it picked up by an  
approved charity, give the truck driver the title and he'll give you a 
receipt  and you can deduct the $500 on your next tax return.  We did this with 
my  late wife's 1989 Beretta that had seen much better days.
 
But check the latest Federal Tax regulations to make sure that things  
haven't changed!!
 
Frank Burkhard
 
 
 
 
In a message dated 11/11/2010 9:18:14 A.M. Eastern Standard Time,  
thesuperscribe at yahoo.com writes:

No! If  it doesn't sell, you don't have to get it crushed. Get an 
appraisal, then  
donate it to a charity -- find a local one that will send a truck to  pick 
it up 
-- then take the appraisal amount as a tax deduction.  


--Tom in Ohio