John M. Hoffman & Associates CPAs

Frequently Asked Tax Questions

Charitable Contributions

 

"I bought an autographed Curt Schilling baseball at an ALS auction. I can claim that, correct?"

You would need to reduce what you paid for the baseball by the value of the baseball. We would hope that the ALS charity would send you a letter thanking you for your purchase and telling you the value of what you received.

A simple example is buying the $100 certificate to Legal Sea Foods at the auction for $150. That is a $50 charitable contribution.