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

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

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.

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

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.

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