Buy 1K status in charity auction closes today! - extended to noon cdt 12 March 2018
Mar 15, 2018, 6:13 pm
#91
Join Date: Oct 2010
Location: LAX
Programs: UA 1k MM, HHonors Diamond
Posts: 256
Context is necessary - that's a household with more than 2MM including two members 1MM+. What possible good would be served for UA to make rules to limit that kind of privilege? I think this 'chain 1K' is not a big deal and it probably would not be good business to take it away. Probably not too prevalent either.
Mar 15, 2018, 6:47 pm
#92
Join Date: Feb 2002
Location: NYC: UA 1K, DL Platinum, AAirpass, Avis PC
Posts: 4,599
I don't feel guilty about it. !'ve flown almost 1.5 MM with united, was 1k for 10 years and paid for almost all of it out of my own pocket. Well in excess of $90k over 19 years. I think myself and my family earned it. What is the jealousy factor about some members of this site?
Mar 17, 2018, 12:58 am
#96
Original Poster
Join Date: Mar 2009
Location: Kingdom of Saudi Arabia
Programs: UA-1k, 1mm, Marriott-LT Platinum, Hertz-Presidents Circle
Posts: 6,355
I have been on biddingforgood.com consistently for 6 years and this is the first time I have seen something like this. I do rounds of golf from charity auctions regularly as well as things in Chicago for my family.
Mar 17, 2018, 6:50 am
#97
Join Date: Jul 2002
Location: Virginia, USA
Posts: 4,510
Mar 20, 2018, 1:45 pm
#98
Join Date: Sep 2008
Location: SF Bay Area
Programs: None - previously UA
Posts: 4,867
So you can deduct price paid - fair market value from your taxes for these sorts of auctions. What is FMV for 1K status for 18 months, somewhere between $2K and $3K I suspect?
Mar 20, 2018, 3:34 pm
#100
Join Date: Oct 2010
Location: LAX
Programs: UA 1k MM, HHonors Diamond
Posts: 256
"Charity Auctions. Donors who purchase items at a charity auction may claim a charitable contribution deduction for the excess of the purchase price paid for an item over its fair market value. The donor must be able to show, however, that he or she knew that the value of the item was less than the amount paid."
The fair market value on the auction site stated $8,000, therefore no deduction.
Mar 20, 2018, 4:09 pm
#101
Join Date: Sep 2008
Location: SF Bay Area
Programs: None - previously UA
Posts: 4,867
Mar 20, 2018, 5:21 pm
#102
Join Date: Oct 2010
Location: LAX
Programs: UA 1k MM, HHonors Diamond
Posts: 256
Could one use United's own criteria that 1k is a $3k additional spend than Plat if one already has that status?
Last edited by sgfood; Mar 20, 2018 at 5:26 pm Reason: addition
Mar 20, 2018, 11:13 pm
#103
Join Date: Sep 2011
Location: SFO
Programs: AS, UA, WN, IHG Diamond Elite, Hyatt Globalist, Hilton Gold, CET 7*
Posts: 3,300
I would love to to know other ways to assess the fair market value, seriously. I agree $8,000 seems to have little basis seeing it takes a $12,000 spend without taxes to qualify flying.
Could one use United's own criteria that 1k is a $3k additional spend than Plat if one already has that status?
Could one use United's own criteria that 1k is a $3k additional spend than Plat if one already has that status?
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.