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What is the "Purchase Price" for the donation of self-created art work for an event benefiting a charity?
I donated 3 pieces of original artworks created by me to a charity event. The charity has provided me with a receipt based on the value of comparable donations. What do I enter as the "Purchase Price"?
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June 3, 2019
10:32 AM
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Deductions & credits
Unfortunately you cannot deduct anything for your skill, talent or expertise for the artwork you created and donated. You can only deduct your costs for the materials used or any expenses incurred in transporting it to the charity.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
June 3, 2019
10:32 AM