Horse ownership is quite a commitment. It’s costlier than smaller pets like cats and dogs, and can be challenging as the horse ages. Horses around and over the age of 15 can sometimes start showing signs of wear and more veterinarian care and medicines may be needed. For some busy horse owners, it just makes sense financially to find a better fit for the horse and owner.
There are always buyers for older horses, but many people worry about the long term care and reliability of ensuring that with potential buyers. If a horse owner finds herself needing to place her horse in a secure home, one way to escape the financial burden of an older horse is to place it with a non-profit organization. Horses donated this way are considered “no-cash charitable contributions” by the IRS and form 8283 can be filed for a tax reduction. If the horse is valued at $5000 or higher, an appraisal form can be included with the 8283 form with an authorized signature of the appraiser.
Some people may not be able to easily give up their horse to a non-profit, but to give examples of scenarios where this makes sense, one valid choice is to donate an older horse to a college program. The horse will likely receive proper care and supervision and be stabled in an appropriate facility.
This would be a hard decision for most, but could result in a very favorable decision for all parties involved.