Tax Deductible Computer Donations
Computer Donations and Tax Deductions
Computers with Causes is part of the Giving Center 501c3 nonprofit organization. Computers with Causes takes the guesswork out of the whole computer donation process by offering easy to understand and useful information throughout this website. Below we have written the most common questions we have answered over the years relating to computer donations and how you can take advantage of a tax deduction. Computer with Causes accepts a wide variety of computer equipment and will place useful equipment through the multitude of educational environments and charitable causes we support throughout the United States and abroad.
IRS Rules for Donating Computer Equipment
Of course one of the greatest reasons to donate to charity is to help the less fortunate. Making a decision to donate your computer equipment to charity can also help you with a substantial tax deduction..
For individuals, the charitable deduction for contributions of technology equals the fair market value (retail used value in the current market place) of the donated property. The donation is tax deductible for the year in which our organization receives the equipment. Shipping costs are also tax deductible under applicable rules and regulations.
The IRS code provides for a tax deduction for property donated to a charitable organization such as Computers with Causes under applicable rules and regulations. For Corporate donors, tax deductions are usually limited to the amount of the donor’s tax basis in the property contributed (Exceptions may apply, consult your tax advisor). The donation letter provided to you by Computers with Causes will reflect the year in which our organization receives the equipment. Warehousing and shipping costs are also tax deductible under applicable rules and regulations.
Yes, if you donate it to a library, school, or a nonprofit program such as Computers with Causes. The tax laws pertaining to this are Section 170 of the Federal Income Tax Code, the New Millennium Classrooms Act, and the 21st Century Classrooms Act. Business donors can deduct the un-depreciated value of the computer, and individuals can deduct the current market value of a computer.
Example: A computer and related software with a purchase price of $3,000, valued at $1000 at time of contribution, receives a $1000 deduction on Schedule A. A written receipt must be received and Form 8283 should be attached to returns. The tax receipt that we provide will have your name on it, the name and identifying EIN number of Giving Center, and the model and type of equipment donated. We are not authorized to appraise the value of the equipment. You are responsible for the determination of the value of your donated equipment.
Under Section 170 of the Federal Income Tax Code, corporations that donate inventory (i.e. Property sold in the normal course of business) to certain charitable organizations, may receive an additional tax benefit. Section 170(e)(3) provides a deduction for corporate contributions of inventory as much as twice the donor’s adjusted basis in the property.
The charitable deduction for contributions of inventory (from a C corporation) will be the total of the donor’s tax basis in the donated inventory plus one-half of the difference between the inventory tax basis and its fair market value. This is limited to 200% of the inventory tax basis plus any incidental costs (i.e., shipping, warehousing) associated with donating the inventory. If the fair market value of inventory is less than the donor’s tax basis in the donated inventory then the charitable deduction should be equal to the fair market value. *Consult your tax advisor for consideration of this option..
Yes! In fact, individual donors like you are what allow us to help so many people all over the country. Computers with Causes provides tax deductions based on fair market value for individual donors as well as large companies. Shipping costs are also tax deductible under applicable rules and regulations.
Sometimes, Yes. Your charitable donation to Computers with Causes may have useful components inside and end up in a school lab or community technology center somewhere in the community. Computers with Causes shall dispose and recycle all obsolete and non-viable equipment utilizing a “zero landfill” procedure in which items are de-assembled to their component level (circuit board, glass, metal, plastic) for recycling and re-use.
A list of common donated items might include: PC Desktop computers, laptops, servers, workstations, tablets, notebooks, 3D printers, routers, Drones, Robotics, Digital Cameras, Car and Boat electronics, VR equipment, medical electronics, machinery, gps units, video game consoles and even VR headsets. The sky is the limit when it comes to donating computers and gadgets. Just complete the form here: Donate Computers and let us know what you want to donate.
Giving Center is the registered 501(C)3 IRS approved charitable organization that owns and operates Computers with Causes. Giving Center accepts a variety of donations through a network of websites and innovative fundraising techniques – this being one of them. Giving Center EIN# 92-1162407 is a nationwide 501(c) not for profit charitable organization that serves to help a wide range of causes nationwide with a focus on education and the ultimate improvement of the lives of those less fortunate with aid in the form of financial assistance, endowments, computers, educational assistance and more. More Ways to Help
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