For next years taxes - what do you claim for monitors turned into Goodwill?

Actually, nothing. They're not going to Goodwill for "charity".

I just track the mileage for the trip and it goes as a business expense. Sure you could say they are worth x amount of dollars but if it's not your own personal monitor I would avoid the possible red flag.

Like KZ said, I would only claim 2 to 3 a year, I ran into a situation where I picked up almost 1000 cell phone cases, gave some away to friends that still had flip phones then donated the rest to GW. The cases alone put me over my donation limit that I could claim for the year.

all of the above are true for various aspects of this. There's more...

As Goodwill says: If you’re unsure whether your item qualifies for a tax deduction, then consider this: if you would give it to a relative or friend, then the item is most likely in good condition and is appropriate to donate.

If you donate a fully functional monitor, Goodwill suggests representing a donation between $5 and $50.

If you donate a monitor that is obsolete or no longer functional, it is not to be considered a charitable donation.

But (many of these mentioned in a couple of posts above)

If you paid for those monitors, the amount is added to your cost of goods sold (usually line 36).

If you bought lunch for the person who bird-dogged the monitors, and assuming it's less than $75, save the receipt and write the person's name on it, write "monitors" or something, and half of it will be deductible (line 24B).

If you took an employee with you to carry the monitors and bought his or her lunch, that is a crew expense and their lunch is fully deductible (I use Part V/Line 48 for that one)

If you drove your vehicle to pick up, process, move, deliver, or anything else related to business (the monitors) those miles are added to your mileage total.

If the monitors simply sat in the back of your truck, and you went out for a six pack, that mileage is not business related.

The IRS advises to keep a log book on your dash, write down your mileage, destination, business purpose. If you don't have good mileage records, they will disallow that expense in the event of an audit.

If the day comes when Goodwill tells you they don't want the monitors and you have to pay a landfill to take them, that is a direct expense. Some people might put that on line 25 but I would say it's not a regular utility and go to section V and list it as disposal of unusable raw materials.

I'm sure there's more. Take every deduction you can conceivably and legally take, and make no apologies. It's not your fault they've created such a cockamamy system.

Originally Posted by volvoscrapper

If you donate a fully functional monitor, Goodwill suggests representing a donation between $5 and $50.

I like this one the best, plus you can claim mileage both ways, pickup and dropoff and your labor expenses. $5 each is about the same as you get stripping them.

They always ask me if I want a receipt when I drop off monitors. I turn them down.

Big red flag or an audit. I am just thankful they take monitors as it allows me to add a service to my customers that I don't have to charge for.

They are providing a valuable service so I don't strip them down. If everyone keeps doing that then we will soon lose that valuable service. JMHO