Originally Posted by
Lomapaseo
Does this auction description establish in the eyes of the US Treasury dept a taxable quantity in all of its forms ?
Yes, the onus is on the organization to provide the donor with a disclosure statement:
Disclosure Statement
The required written disclosure statement must:
a. Inform the donor that the amount of the contribution that is deductible for federal income tax purposes is limited to the excess of any money (and the value of any property other than money) contributed by the donor over the fair market value of goods or services provided by the charity, and
b. Provide the donor with a good faith estimate of the fair market value of the goods or services that the donor received. The charity must furnish the statement in connection with either the solicitation or the receipt of the quid pro quo contribution. If the disclosure statement is furnished in connection with a particular solicitation, it is not necessary for the organization to provide another statement when it actually receives the contribution.