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Dakota model #10

Joined
Aug 29, 2017
Messages
13
Deluxe model
300 H&H
23" barrel with banded hood front site
Ebony forend tip
Upgraded walnut
Gold oval
Skeleton grip cap cover
Tear dorps in stock
Over $10k new
$8500
Owned by 501c3 therefore purchase price tax deductible.
20160527_171811.jpg
 
"Owned by 501c3 therefore purchase price tax deductible."

Not sure who does your taxes but in fact, only that portion of the purchase price that exceeds the market value of the property being received can be (potentially) considered to be a charitable contribution which might be deductible. Even that would be questionable.
Assuming you have the rifle fairly priced, the purchase cost (even from a 501c3 recognized entity) would not be deductible.
Setting that aside, I've owned two of the Dakota Model 10 rifles and they are exceptionally nice guns. Good luck with the sale.
 
"Owned by 501c3 therefore purchase price tax deductible."

Not sure who does your taxes but in fact, only that portion of the purchase price that exceeds the market value of the property being received can be (potentially) considered to be a charitable contribution which might be deductible. Even that would be questionable.
Assuming you have the rifle fairly priced, the purchase cost (even from a 501c3 recognized entity) would not be deductible.
Setting that aside, I've owned two of the Dakota Model 10 rifles and they are exceptionally nice guns. Good luck with the sale.
I don't own the rifle. It has been donated to a 501c3 and the purchase goes to them. I am only trying to help sell it for them.
 
In that case, I assume the person who donated the rifle has a significant tax write-off based on it's value. The purchaser however; won't. They should check with their tax adviser before attempting to write off the purchase cost.
Kudos to you for helping the 501c3.
 
In that case, I assume the person who donated the rifle has a significant tax write-off based on it's value. The purchaser however; won't. They should check with their tax adviser before attempting to write off the purchase cost.
Kudos to you for helping the 501c3.
We are just going by what our tax professionals are telling us.
 
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