Receipts for auction purchases show fair market value (FMV) and the deductible amount per line. This is always on and has no switch.
How the deductible amount is worked out
- Item: deductible is the price less FMV, never below zero. FMV is per unit times quantity.
- Item with no FMV: FMV defaults to the price, so deductible is 0.
- Raffle ticket: FMV equals the price, deductible 0.
- Pledge: deductible is the amount less any gift FMV from the giving level.
- Buyer premium: FMV equals the amount, deductible 0.
- Event ticket: FMV comes from the event item.
Example
Two gala tickets at 100 (FMV 80), one lot won at 500 (FMV 300), 10 percent premium of 50, five raffle tickets at 20, and a 1000 pledge total 1850. FMV is 530 and the deductible amount is 1320.
Receipt
- One consolidated receipt per bidder covers every document.
- FMV and Deductible columns show only when a line has FMV. Plain ticket receipts are unchanged.
- Payments over 7,500 USD with a deductible amount print the good-faith FMV statement.
Where FMV lives
FMV is stored on the sales document line items and totals in the Payments package. Forge keeps its own snapshot as the receipt source.