Quote:
Originally posted by tmdiva
Not about my personal taxes.
Say you have an auction benefiting a charity/registered non-profit etc., with donated items offered and all proceeds going to the organization. Purchasers can only deduct what they pay above the value of the item, right? But donors (of items) can deduct the value of the item?
Thanks in advance for your help.
tm
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Yes. There are little quirks to this, but for general purposes you are basically correct.
