Can You Deduct Charity Auction Items? Donors who purchase items at a charity auction may claim a charitable contribution deduction for the excess of the purchase price paid for an item over its fair market value. … The sale of an item is considered unrelated, even if the sale raises money for the charity to
How Does A Silent Auction Fundraiser Work? Silent auctions are a type of charity auction and nonprofit fundraising event. During silent auctions, organizations raise money by taking bids on auction items and selling each to the highest bidder. Bidding is either conducted by using paper bid sheets or mobile bidding software. What is a silent
Are Auction Purchases Tax Deductible? Are auction purchases tax deductible? Donors who purchase items at a charity auction may claim a charitable contribution deduction for the excess of the purchase price paid for an item over its fair market value. The donor must be able to show, however, that he or she knew that the