SENDING MY COLLECTION TO AUCTION

[Reggie B]

And the contribution would not be a credit, it would be a deduction from adjusted gross income as an itemized deduction subject so certain limitations depending on several factors. Credits offset tax dollar for dollar. Deductions reduce taxable income, therefore, the tax savings is dependent on your tax bracket.

[Bill Murphy]

Yup, a deduction, not a credit. At my income level, my tax deduction for a donated A-1 Special 20 gauge would probably be about a tenth of the value of the gun.