Nov 29, 2021
2:56:14pm
Tricky All-American
How much of an "All In" Auction item purchase is tax deductible?
Is there any specific IRS guidance on whether sports memorabilia like a game worn helmet is valued at its auction purchase price or at some lower fair market value for a similar item (football helmet, for example). Is there any part of it that is considered a donation, or is the fact that you won the item in an auction evidence that its market value is precisely what you paid for it?
Tricky
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Tricky
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Related Threads Topic: Likely because I am poor, but I missed this. Rich CB people can get cool stuff (sidsie716, Nov 29, 2021 at 2:51pm)

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