Non Sequor on 26 April 2009
Non Sequor said:
I'm not an accountant, but I'm pretty sure that if you give them to charity, you should be able to deduct the value that GameStop *sells* the used consoles for. You would save 25-28% (depending on your tax bracket) of that value on your taxes.
Of course, going that route you won't actually see the money until you get your rebate next spring, but this way you get to help someone other than GameStop.
Edit in bold
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I looked up a few things and I've got to add one big caveat. To do this, you have to itemize your deductions instead of using the standard deduction, so you wouldn't have any tax savings unless you have enough itemized deductions to exceed your standard deduction.
So really, if this will help you or not depends on your tax situation, but still I think it's worth thinking about.
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