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Tax value of a cruise?


Hi All!

Here's an odd question for you: some friends asked if we'd be willing to host an afternoon cruise on our Carver 390 CPMY as an auction item for a local choral groups fundraiser auction. They mentioned that I could write off the value of the excursion as a charitable deduction.

I'm intrigued, but I'm not sure what value to put on it. Obviously there's the estimated fuel burn, but I'm sure I could (and should) factor in an amount for wear & tear, cleaning of the boat, etc.

Has anyone done something like this, and if so, what tax value did you put on it (and were you audited?)?

Thanks!

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