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southern MN

Starting a new thread to not to interfere with the "pumpkins in greenhouses" thread.

If you were to donate a pumpkin to charity would the cost of growing the pumpkin be deductible or is it just the value of the pumpkin (i.e. "x" cents per pound or better yet "x" dollars per pound)?

This of course is assuming you are not a type of business which could easily hide the cost of growing a pumpkin in the cost of operating the business.

10/13/2004 12:57:51 PM

[email protected]

I should think you could claim it as a charitable contribution for the fair market value so long as you itemize. $1.00 per pound is the going rate around here delivered.

But wait for a CPA to answer this question before triggering an audit! LOL

10/13/2004 1:29:05 PM

Western Pa.

Usually if you donate something like a pumpkin seed to a charity auction, you can deduct what you paid for it, not what someone else pays for it. I do know that you can deduct the cost of your hobby equal to the amount of any prize money you may have received.

10/13/2004 1:43:12 PM

Thornhill, Ontario, Canada

How much does it cost to register a business name and set up a website? Just start a giant pumpkin growing and seed business. It doesn't really matter if you only grow one or two a year. Better yet, start a non-profit local growers' organization. It doesn't matter if you're the only member, does it :-).

P.S. This is not a legal opinion. Tremor is right. Consult an accountant or lawyer before you take any advice off the Internet from people you've never met.

10/13/2004 2:11:06 PM

Omaha, NE (N41-15-42 )

You could incorporate a 501(C)(3) organization with the goal of growing pumpkins to donate to charity. Then you could make tax-deductible contributions to the charity, which, in turn, would pay for pumpkins supplies.

10/13/2004 3:08:35 PM

Omaha, NE (N41-15-42 )

But I'm not an attorney or a lawyer, just a computer consultant with a political science degree, so as with the other posts above, do consult qualified legal and tax advisors before proceeding

10/13/2004 3:11:02 PM

Kenyon, Mn.

Wango... WOW... We are practically Neighbors!!!!

10/14/2004 7:01:21 AM