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The Chip Board Archive 19

Yes, the way I understand it, any donations made

directly to the CC & GTCC or the MOGH are tax deductable for the amount paid minus the fair market value.

So for example if someone purchased a grab bag, the fair market value should exceed the amount of the donation so no deduction would be allowed.

However in the case of the Playmate chips you sold, that delta can be claimed.

Please remember it is up to the person claiming the donation to deduct fair market value for what they purchased.

Doug

Messages In This Thread

Fund raiser for the Club. Just for fun.
whats the highest bid so far....
Sad to say there are no bids yet.
ok its $20.00......
I'll start it out..$10.00
Thanks Hoss!! Do I have $20?
How about $15
I bid $30
Since Ron went to $35, I'll bid $50
Awesome!! Keep it going! vbg
grrrrr since wayne went to $50 i bid $60.00
Question for Doug Smith or other BOD members.
It is my opinion that all donations to the club
In this case, the value of the item is already
This is my print that I bought....
Thank you Tracy for your generous Donation.
Thanks Doug. Wish I could do more.
Question
I believe it could be worked like that, however
My question is the same as Barry's
Yes, the way I understand it, any donations made
Makes sense.....thanks!
Wayne, See my reply to Tracy.
IRS Publication on charitable deductions

Copyright 2022 David Spragg