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<Frank Dudek>
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Does anybody have an acceptable formula for putting a value on a 70 foot Douglas fir that has been donated for a public display. The client wants to claim it on his taxes.
 
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<James Scarlata>
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Reply to post by Frank Dudek, on December 09, 2002 at 19:05:17:

Since the tree was donated I don't think it would qualify as a casualty loss. The owner could still deduct the market value of a christmas tree as a donation. You may not find similar sized tree transactions for comparison so you may have to extrapolate based on the largest you can find. I can't provide you with any pricing information since retail prices for christmas trees vary from city to city.

James M. Scarlata
Manistee, MI
 
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