We burned down an unwanted house for Tax Deduction! - Ford Powerstroke Diesel Forum
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post #1 of 1 Old 01-15-2011, 02:23 PM Thread Starter
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We burned down an unwanted house for Tax Deduction!

Hi Folks: This is a video of the burning of a small farm house that we owned in Madison County in the western part of North Carolina. We donated the house to the local fire department to burn down for practice. The house was 75 years old at the time and in very bad condition. It has been built by poor farmers who did not have to worry about building codes or inspectors. The house looked pretty good from a distance but every part of the house needed to be rebuilt. The uphill end of the house sat directly on the dirt and was badly damaged by termites. The downhill end sat on dry stacked piles of stones. The roof had multiple layers of asphalt shingles covered by a layer of tin. Every board in the fascia, soffit and siding was rotten on the ends. To make a long story short the house needed just about everything replaced from top to bottom.

To qualify for a charitable tax deduction we had to have the house appraised and we had to get a letter from the fire department stating how much the house was worth to them as a training exercise. We were able to deduct the lesser of the two amounts as a charitable deduction on our income taxes. If you would like to have one of your buildings burned down I suggest that you talk to your accountant or tax attorney first.
Here is the link:

Good Luck, Mars
mars1952 is offline  
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