Numismatic Donation For Tax Deduction

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Author	Replies: 5 / Views: 1,451
Cdncoins Pillar of the Community Canada 999 Posts	Posted 03/29/2021 4:16 pm Well it's that time of year again - income tax time. This got me thinking, has anyone donated coins or other numismatic material to a charity and deducted it on their taxes? I have never done this. It's probably a hassle for the charity to sell the item to get cash, but I'm sure they won't mind if the item is of high enough value. If you did, what source did you use to assign the item a value? Report this Post to the Staff

jbuck Moderator United States 188740 Posts	Posted 03/29/2021 4:33 pm Nope. I would probably sell myself and donate the cash. I would be afraid the recipient would not get full value otherwise. Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Report this Post to the Staff
Pacificoin Pillar of the Community Canada 5394 Posts	Posted 03/29/2021 6:29 pm Give Cash or Cheque Only to a REGISTERED Charity ( Listed on CRA website ) Get a proper receipt! Report this Post to the Staff
jbuck Moderator United States 188740 Posts	Posted 03/30/2021 11:32 am Quote: Get a proper receipt! Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Report this Post to the Staff
Ballyhoo Pillar of the Community United States 1613 Posts	Posted 04/08/2021 2:07 pm In Pennsylvania, all that I need is a signed statement with the 501c number from the representative of the charity it is donated to, including what items and their declared value. My accountant files them and I get it back. I usually donate several times a year to local EMS, police and fire through their women's auxillaries. ANA member - PAN Member - BCCS Member There are no problems only solutions - the late, great John Lennon Edited by Ballyhoo 04/08/2021 2:14 pm Report this Post to the Staff
Pacificoin Pillar of the Community Canada 5394 Posts	Posted 04/08/2021 2:23 pm The original post was Canadian in nature , CRA rules are much different than IRS rules concerning donations . My wife is USA citizen , we deal with both every year . Report this Post to the Staff
	Replies: 5 / Views: 1,451

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