Acknowledgments for Auction Items

Acknowledgment for Items Purchased at [Event Name] Auction

Acknowledgment of Payment

Received from: _______________________________   Date: __________

Address: ____________________________________________________

City: ______________________________  State: ______  Zip: _________

Amount paid for auction item(s)      $_____________ (excludes sales tax)

Description and condition of items that were purchased at the auction:

Item(s)

Estimated Fair Market Value

Price Paid at Auction

 

 

 

 

 

 

 

 

 

You may be able to claim a charitable contribution deduction for the excess of the purchase price paid for an item over its fair market value. You must be able to show, however, that you knew that the value of the item was less than the amount paid. Assuming you have no reason to doubt the accuracy of the published estimate of fair value, the amount paid in excess of the published value may constitute a charitable contribution deduction. Please consult with your own financial or tax advisor for more information.

Acknowledgment issued by:

________Name of Ministry________________________________

_________________________________________________________________

 

Acknowledgment for Items Donated to [Event Name] Auction

Charitable Gift Acknowledgment

Received from: __________________________________ Date: ________

Address: ____________________________________________________

City: ________________________________ State: ______ Zip: ________

Description and condition of items donated for the auction:

__________________________________________________________

__________________________________________________________

__________________________________________________________

__________________________________________________________

__________________________________________________________

When a giver provides goods to a ministry to sell at an auction, tax law limits a giver's charitable deduction to the giver’s tax basis in the contributed property. The giver is not permitted to claim a charitable deduction for the contribution based on the fair market value of the item(s) contributed. Please consult with your own financial or tax advisor for more information.

Our ministry did not provide any goods or services in exchange for this gift.

For gifts of $250 or more, this document is necessary to substantiate your gift. Please retain it for your records.

Acknowledgment issued by:

________Name of Ministry________________________________

 


This text is provided with the understanding that ECFA is not rendering legal, accounting, or other professional advice or service. Professional advice on specific issues should be sought from an accountant, lawyer, or other professional.

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