I won a pair of tickets (from a radio station) to a charitable event. These tickets were being sold for $275 each, and are marked as having a fair market value of $50. Thus, if I were to purchase these tickets, I'd be eligible for a $225 charitable deduction per ticket. Since I won these tickets, the radio station will be sending me a 1099 for $550 (plus other, previous winnings that get me over the $600 limit). Any opinions on whether I can dispute the $550 value? I say that the fair market value ought to be $100. If I had purchased the tickets, I'd get a $450 deduction. If I win the tickets and donate $550, shouldn't I be in the same position? Any thoughts on this?
- posted 12 years ago