Solved: We purchased an automobile at a silent auction from a charity, is this deductable and at what amount

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

posted

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.

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.

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