Do you want to stay logged in?
Self-employed professional writer and 20-year college professor donates book collection collected over many years. Many books were provided by publishers and from other writers for review and/or for course evaluation other books were purchased for personal use. Any books purchased as self-employed writed were expenses in year of purchase i.e. no capitalized and depreciated. Given that these books except those purchased for personal use had a zero basis can taxpayer take a charitable donation for FMV of all the books? ( Books were lumped together as a "Book collection". It seems like professors donating their book collection is a common occurance but I can't seem to find much in the way of answers regarding zero basis issue.