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My weird and unrelated question is: if I donate software to an open source group like the Linux Foundation, can I write it off my taxes? And if so, how do I as
by tdees40 10y ago
My weird and unrelated question is: if I donate software to an open source group like the Linux Foundation, can I write it off my taxes? And if so, how do I assess the value of it? RethinkDB probably has some legitimate market value...can the founders reflect that on their taxes?
- ci5er 10y agoIt's not the founder's asset -- unless it has been released back to them in adjudicated liquidation proceedings or by contractual agreement. It is the company's asset, and would be reflected in the company's taxes.
- dublinben 10y agoNot likely, since the Linux Foundation is a 501(c)6 organization, and donations are not tax-deductible.
- chrisabrams 10y agoThis is correct.
- Cshelton 10y agoHad never thought of this... for Linux Foundation, I don't believe so. However, it'd be interesting to see an Open Source Foundation set up as a 501(c)3, where contributors would get to write off a certain value given for their contribution. The hard part would be, what is the value of the product you have contributed, and how will it stand up under audit? Or would it just be considered a service and, just like volunteering, you can't really write it off. I can see a foundation that provides software to the community, especially communities that would other wise not have access to it, and or municipalities, etc.