If I donate a car worth $8K to a charity and the charity car auctions it for $10K, how much can I deduct for taxes?
Rocket Asked:
If I donate a car worth $8K to a charity and the charity car auctions it for $10K, how much can I deduct for taxes?
Reply:
You get the lessor of FMV or what the charity auctioned it for.
However, if the charity sold it for $10K, I Buy Acomplia don't see how the fair market value could be less than that, by the definition of fair market value (what an informed unbiased buyer and seller agree the item is worth).
The charity will (or did) send you the sale total, claim that amount.

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