Taxable Value

If you are a registered charity, bidders may be eligible to claim a tax deduction for donations.

The Bidder Statements can be configured to show a tax deductible column for each item.

By default, the tax deductible amount is the amount by which the bid, or purchase price, for an item exceeds its value except for donation items where the full amount is treated as tax receipt-able.

You can override the calculation for an item using the Taxable Value field. If set, any bid or purchase amount in excess of the "taxable value" is shown as tax deductible. By default, this field is blank (or 0) which means to use the item's value.

For example, if you have a gala ticket which is $200 but only $75 is tax deductible, you would create the item as a For Sale Item with a value of $200 and a "taxable value" of $125. A bidder purchasing this for $200 would see a tax deductible amount of $75 on their "bidder statement".

Last Updated: 6/26/2019, 3:06:00 PM