|
|
Post by donna on Jul 13, 2014 18:35:15 GMT
We just cleaned out my dh's collection of books and have over 250 books to donate. They are a mix of hardcover and paperback. When we look on the IRS website about value, it just said "fair market value". How do we figure out this value? We are most likely going to donate to a Friends of the Library program. We still have my books to go through as well.
So what would you call fair market value for hardbacks and paperbacks?
Update: My dh had 141 hardbacks and 118 paperbacks. Thus far, I have 46 hardbacks and 197 paperbacks. I still have two more bookcases to go though.
|
|
|
|
Post by SockMonkey on Jul 13, 2014 18:39:45 GMT
|
|
|
|
Post by hennybutton on Jul 13, 2014 18:40:29 GMT
I would check with a local used book store and find out what they pay for used books.
|
|
|
|
Post by anxiousmom on Jul 13, 2014 18:42:49 GMT
Instead of donating outright, have you thought about a mini-library? mini libraryThis is so cool and there are already something like 15 in my small community. ETA: Here's another link: little free library |
|
|
|
Post by Eddie-n-Harley on Jul 13, 2014 19:11:29 GMT
Instead of donating outright, have you thought about a mini-library? mini libraryThis is so cool and there are already something like 15 in my small community. ETA: Here's another link: little free libraryWe have lots of those in my neck of the woods but if you're going to put one up, be sure it complies with any neighborhood, HOA, or local regulations. There was a story recently about a young boy (10, maybe? might have been scout project) who had put one up in his yard but the HOA told him to take it down because it wasn't an authorized structure or other stupid nonsense. |
|
CeeScraps
Pearl Clutcher
~~occupied entertaining my brain~~
Posts: 3,890 
|
Post by CeeScraps on Jul 13, 2014 19:16:50 GMT
You didn't mention grade level but I bet you could find a school where there are new teachers and they don't have a classroom library.
|
|
|
|
Post by donna on Jul 13, 2014 19:30:30 GMT
These are not elementary books. They are Tom Clancy, John Grisham, Robert Jordan, Tad Williams, Isaac Asimov, and a lot of other Science Fiction/Fantasy authors. My books will be a lot of historical romance with some biographies thrown in as well.
|
|
garcia5050
Pearl Clutcher
Posts: 2,769
Location: So. Calif.
|
Post by garcia5050 on Jul 13, 2014 22:49:44 GMT
The library will give you a receipt with the value, but turbo tax will assess its own value. A quick Q&A search on turbo tax says a good condition used paperback is valued at $5. Hardcover is $7.
|
|
|
|
Post by donna on Jul 14, 2014 3:33:09 GMT
Do we need to document them better than just number of each kind of book? I would hate to get audited for having this as a big donation.
|
|
|
|
Post by Eddie-n-Harley on Jul 14, 2014 3:37:43 GMT
Do we need to document them better than just number of each kind of book? I would hate to get audited for having this as a big donation. I think I might line them up and take a snapshot of various piles, maybe 10 to a photo? Upload the photos, make a spreadsheet, and just write down if it was paperback/hc-- whatever criteria you're going to use to tally up your donation. As an aside, if you have some older books (I'm thinking maybe your DH's asmiovs?), maybe take a peek inside and make sure you're not getting rid of a first edition or other unique printing. Unless you know they're all of recent vintage. |
|
eastcoastpea
Prolific Pea
Posts: 9,252
Jun 27, 2014 13:05:28 GMT
|
Post by eastcoastpea on Jul 14, 2014 11:40:45 GMT
What a great donation. The library is going to love you for it.
|
|
|
|
Post by donna on Jul 14, 2014 15:51:18 GMT
eastcoastpea, we have been checking a lot of e-books out from the library, so we thought donating to them would be a good idea.
|
|
