Another T206 Wagner Found ... - Net54baseball.com Forums

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#29

11-05-2010, 11:00 AM

Jim VB

Member

Join Date: Apr 2009

Posts: 2,090

Quote:

Originally Posted by barrysloate

Wouldn't the money paid for this card be considered a charitable deduction, since it's going to the nuns? In that case, we should expect a price realized that would exceed its retail value.

I don't think the IRS works that way Barry. There is only one taxable deduction for this donation and that goes to the gentleman who donated the card to the nuns.

The winning bidder just paid, in theory, fair market value for a card. He pays money. He gets a card. No deduction.

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Jim Van Brunt

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