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📄 How to Display FMV in Your ClickBid Event & Receipts

🎛️ Set Up FMV Display in the Admin

To choose where Fair Market Value (FMV) appears for bidders and on receipts:

  1. Go to Software Settings

  2. Click Auction Settings

  3. Select FMV Settings

From here, you can toggle FMV visibility in three key places:

  • Auction Preview – visible on your landing page and item share links

  • Browse Page – shown during bidding on the item listing

  • Bidder Receipts – displayed after purchases or donations

💡 Tip: We recommend turning ON FMV for at least one public-facing view so bidders can assess their charitable contribution (see IRS guidance below).

🇺🇸 IRS Guidance for U.S. Nonprofits

If you’re a 501(c)(3) organization in the U.S., you must follow IRS guidelines for donor receipts and auction reporting.

🧾 Why FMV Matters for Tax Deductions

According to the IRS, donors must know the FMV at the time of bidding in order to claim a tax deduction. This helps demonstrate the charitable nature of their contribution.

📌 Info: The IRS states:

“A donor may claim a charitable contribution deduction only to the extent that their payment exceeds the fair market value of the item received... and only if they knew the FMV at the time of bidding.”
→ Read more here

What this means for you:
✔️ FMV should be visible to bidders during the auction
✔️ FMV should appear on receipts for IRS-compliant donation records

⚠️ Understanding "Priceless" FMV Values

If you enter "Priceless" as an item's FMV in ClickBid:

  • It will be treated as $0.00 on the bidder's receipt

  • This means no tax deduction can be claimed

📌 Info: The IRS requires a “good faith estimate” of value. If an item truly has no estimable value, it must be listed as $0—hence, no charitable deduction is allowed.

🧾 FMV on Receipts

IRS regulations require receipts to include:

“A description and good faith estimate of the value of goods or services, if any, that the organization provided in return for the contribution.”

📚 See the IRS source here

To comply:

  • Enable FMV display on receipts in FMV Settings

  • Consider adding your Tax ID in the Statement Footer section (see below)

✍️ Add Tax ID to Receipts

To add your organization's Tax ID to all bidder receipts:

  1. Go to Software Settings

  2. Click Auction Settings

  3. Select Custom Content

  4. Scroll to Statement Footer

  5. Enter your Tax ID, contact info, or thank-you message

💡 Tip: The Statement Footer appears at the bottom of every receipt, making it a perfect place for compliance and donor-friendly info.