Writing off computer programming for charity?

[neveroddoreven]

I would like to develop some computer software for a 501(c)3 charity cause, and take a tax deduction for it. I read some articles online that said individuals can't take a deduction for time donated, but could deduct for merchandise/cash donated.

Would it be reasonable to produce a new software application for a charity, donate the software and the rights to its code/intellectual property to that charity, and take a deduction on the fair market value for the software application itself? If so, how might I go about setting a value on a custom software application?

I haven't started the work or selected a charity yet, so if this idea is plausible, I'd gladly accept any tips on keeping records and following rules.

 

[HappyWanderer]

Generally, the time you contribute to charity is not deductible. However, there is some case law out there that a product developed can be donated. (A trust made by an attorney, a furniture cabinet.) You have a difficult number problem. How much is the software worth? Did you create a salable product? I'd see a good tax guy who can review your facts with the deduction in mind. Many have tried what you want and many, less a couple, have failed. You need to be very careful.