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Deductions & credits
It is unlikely that your cost toward the auction items is deductible. Only contributions to qualified charitable organizations are allowed for purposes of deducting charitable contributions. For example, donations to GoFundMe accounts are not deductible. However, a donation to the Red Cross would be deductible. Unless the donation went directly to a nonprofit, it will not be deductible.
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March 9, 2025
5:49 PM