Oh, Vince...
- Thread starter Chasey_Lane
- Start date
huntr1
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WRONG!!!!!!!! As long as you get something in return for your money, you have to deduct the value of that object from your tax write-off. In this case, you are getting a dog. Dog is worth what you are paying. Thus, it's not a legal tax write-off.Dog Seller said:
You want a tax write-offf, write SMAWL a check and leave with only what you came with.
Cowgirl
Well-Known Member
Nope, you're wrong. When I was in 4-H, we'd auction off our livestock...the buyers could use that as a tax write-off.
ETA: I just read that you can't deduct animal adoptions...so I wonder what the difference was in 4-H animals?
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huntr1
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Nope. I'm right. If your contribution entitles you to merchandise, goods, or services, including admission to a charity ball, banquet, theatrical performance, or sporting event, you can deduct only the amount that exceeds the fair market value of the benefit received.
You can deduct the amount paid in excess of the fair market value of the animal. At the 4-H auction, don't people usually pay more than market price for the animals?
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Cowgirl
Well-Known Member
But why were people allowed to deduct the whole amount for the animal they bought at the auction?
huntr1
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We're playing tag with post and edit. See my post above.
Vince
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I can't afford another one. The vet bill for this one was $700.00 Won't get another dog.
huntr1
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Because they are fibbing (unintentionally I am sure) on their write-off, or there is a game being played, a little 3-card monte action on the side. Maybe it works like this:
Little Susie raises a chicken for 4-H. Businessman Jones buys it at the 4-H auction at the county fair. He writes his check to the 4-H and Little Susie gives him her chicken on the way out. The 4-H was never the owner of the chicken. Little Susie always was.
Don't know, just guessing. Personally, I say write off as much as you possibly can get away with.
What the IRS doesn't know won't hurt them.
Cowgirl
Well-Known Member
People sometimes pay more than market value, but they were able to deduct the full amount. 
I don't know...I can't find the info for MD...but I'm not too worried about it. I'll just know I can't write off the next animal I adopt.
huntr1
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I won't tell them you got an animal in exchange for the check if you won't.
BS Gal
Voted Nicest in 08
So what if you pay $175 for a 7 and a half year old dog, $200 a week later for vet care and then another ???? for the sore paw she had when you got her . Can you take a deduction if the animal needs vet care after you get it over and above what you "donated" to get her? I'd never take this dog back, but I'm wondering if you can deduct $ on taxes for that?