In addition to being a Masters swimmer in the San Francisco Bay Area, Bonnie Tsui is also a best selling author. Her latest book, Why We Swim, is a wonderful read for anyone who loves water! It includes a mix of history, science and personal stories. And it is signed to boot! You are bidding on the signed book and a Zoom call with Bonnie herself!
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. For example, a charity may publish a catalog, given to each person who attends an auction, providing a good faith estimate of items that will be available for bidding. Assuming the donor has no reason to doubt the accuracy of the published estimate, if he or she pays more than the published value, the difference between the amount paid and the published value may constitute a charitable contribution deduction.
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