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    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #1

    Mar 10, 2016, 06:56 AM
    Charitable Deduction
    I have some items that I won in drawings (a Go-Pro camera and a laptop). I also belong to an organization that runs an annual event for charity. It's a bicycle tour where the proceeds go to various charities (Make a Wish among them). As part of the fund raising at this event, we usually include a raffle (usually a bicycle donated by a local bike shop).

    I was wondering if I donated one or both these items to be raffled off can I take a deduction as a charitable contribution. Could I take the full retail value of the items? What would my organization need to give me as proof?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Mar 10, 2016, 07:51 AM
    Scott,

    Yes, you can claim the items as a charity donation IF you declared the value of the items on your tax return as income.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    Mar 10, 2016, 08:22 AM
    Always a catch ;)
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Mar 10, 2016, 10:53 AM
    Yep! If you did not pay anything for the donation, you have no basis for the value of the property.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #5

    Mar 10, 2016, 01:05 PM
    And I'm guessing that something like that stands a good chance of triggering an audit.
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