Silent auction items
Varies
Can You Write Off Silent Auction Items?
Short answer: Only the amount you pay above the item's fair market value is a charitable gift.
Itemizers deduct gifts to 501(c)(3) charities (from 2026, only the part above 0.5% of AGI); non-itemizers can deduct up to $1,000 ($2,000 joint) of cash gifts starting in 2026.
Records to keep: Keep receipts, statements (1098, 1098-T, 1099, W-2G), and a note of what each cost was for. Compare itemizing to the 2026 standard deduction before you claim.
Silent auction items
Varies
Individuals / Personal Taxes
Only the amount you pay above the item's fair market value is a charitable gift.
Business justification
Only the amount you pay above the item's fair market value is a charitable gift. Itemizers deduct gifts to 501(c)(3) charities (from 2026, only the part above 0.5% of AGI); non-itemizers can deduct up to $1,000 ($2,000 joint) of cash gifts starting in 2026.
Category
- Personal Tax Deductions