Items donated to the Benefit Auction are tax-deductible according to the tax basis (not the fair market value). In general, if the total charitable deduction claimed for non-cash property exceeds $500, the taxpayer must file IRS Form 8283. For property valued at more than $5,000, a written appraisal may be required.
For items and services purchased at the Benefit Auction, any amount paid that exceeds the fair market value may be tax-deductible. Reservation fees and raffle entries are not tax-deductible. Please consult your tax advisor for more details or advice.
If you would like to donate an item to the auction, please call 802-649-2200 ext. 249 or email email@example.com.