Valuation of charitable contribution - Spidell

Valuation of charitable contribution

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Message Board Valuation of charitable contribution

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    • #219878
      Nancy Pearson
      Participant

      A client has painted a landscape and donated it to a local art center for use in a silent auction.  The client wants to deduct the amount that a bidder paid for the painting.  Is there a IRC section that specifies how the deductible amount should be determined?

    • #220031
      Lynn Freer
      Participant

      IRS treas reg sec 1.170A-4b

      Their deduction is not the price the purchaser paid

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