Originally Posted by MomtoBostonTerriers
Originally Posted by butterflywing
what if it's raffled, sold or auctioned by a charity? does that affect the value?
No. Your charitable tax deduction is the value of the goods that YOU put into the quilt. If your quilt is auctioned off for $50,000 (as well it should be), well, that's to the benefit of the charity. But it doesn't affect how much it cost you to make the quilt.
scratching my head here, If I bought stocks totaling $100 and now the value is $1,000 I can give the charity the stocks and deduct the $1,000 avoiding capital gains. Right? Soooo why not the quilt apreciation? Just wondering..... off to my corner now.....
piney