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June 6, 2019
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We purchased an automobile at a silent auction from a charity, is this deductable and at what amount

  • June 6, 2019
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Best answer by Marketstar

Your purchase of the automobile from a charity may be deductible to the extent that the price paid exceeds the vehicle's market value.

Otherwise, the purchase is not deductible.

1 reply

Employee
June 6, 2019

Your purchase of the automobile from a charity may be deductible to the extent that the price paid exceeds the vehicle's market value.

Otherwise, the purchase is not deductible.