If I were to donate my horse, how much would i get in return (tax deuction)?

Question

Donate horse to non-profit 501 (c)(3) organization.

let's say the horse is appraised at $16,000, how much would I get back?

Is there a way you can get 50% of what the horse is worth? I was thinking if the horse was worth ten, you get five?...

Answer 1

If the appraisal stood up, then your tax savings would be as much as the value times your tax bracket - so if you're in a 25% bracket, your tax savings could be as much as $4000. If your other itemized deductions don't already allow you to itemize, then the savings would be a little less.

If you're talking about donating the horse to be used by something like riding for the handicapped, their horses aren't usually $16K horses - the IRS might question the appraisal and the donation. And if the horse is really worth that much, you'd be way ahead to sell it and donate part of the proceeds to the charity.