- 9 -
In support of her donations of property to Housing Works,
petitioner produced several of the inventory list forms described
above. We are satisfied that, for the most part and at least as
to form, the inventory lists conform to the requirements of the
above-cited regulations. According to petitioner, she estimated
the fair market values of the donated items shown on the
inventory lists. The actual costs of those items are not taken
into account in petitioner’s estimates, and petitioner did not
provide the prices at which the donated items, or items similar
to the donated items, were ultimately sold by Housing Works.12
The resale prices of the donated items, or similar items, would
certainly be relevant and persuasive evidence of the fair market
values of various items of property that petitioner donated to
Housing Works.13
We are satisfied that the inventory list forms present a
fairly accurate description of the items donated. Nevertheless,
given petitioner’s valuation methods, we have severe reservations
regarding the fair market values that petitioner assigned to
12 According to petitioner, she checked the accuracy of her fair
market value estimates regarding various donated items through
Internet research that she performed in preparation for trial.
13 Petitioner acknowledges the value of this information, as she
claims that she unsuccessfully attempted to determine the sale
prices set by Housing Works for the various items that she
donated.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Next
Last modified: May 25, 2011