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| *Loan,banking and credit>>>income tax |
I bought a raffle ticket and purchased and auction item too. What can I claim on my income taxes? |
I bought a raffle ticket and purchased and auction item too. What can I claim on my income taxes? If this was for a charity event, you can only deduct the amount that is greater than the value of the goods received. For example, you paid $100 total to the church (or non-profit organization) for the item, and they are worth $80, you may only deduct $20. See http://www.irs.gov/charities/charitable/... Insanity nothing. nothing that I can think off Those are not taxable items. Its like selling and buying items at a yard sale, you don't have to, nor are you required to report those. |
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