Priceless and $0 Fair Market Value
Learn how FMV settings affect receipts, item displays, and donor tax documentation in ClickBid.
🔍 What is Fair Market Value (FMV)?
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FMV is the estimated value of an item or service being offered at auction.
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It determines the tax-deductibility of a donor’s contribution.
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IRS rules require accurate FMV disclosures for charitable receipts.
If you're unsure how FMV impacts tax write-offs, refer to the IRS Gift Substantiation and Disclosure Requirements for more details.
🧾 FMV Rules & Tax Write-Offs
| FMV Setting | Donor Tax Deduction? |
|---|---|
| Priceless or $0 | ❌ No tax write-off (except for donation-only items) |
| Greater than $0 | ✅ Eligible for a tax write-off |
🛠️ How to Mark an Item as "Priceless" or $0
✅ Option 1: Manually Set in Admin
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Go to Items > Manage Items
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Click Add Item or edit an existing one.
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Scroll to the Fair Market Value field.
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Either:
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Enter 0 as the FMV, or
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Toggle the Display as Priceless option.
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Save your changes.
Checking the "Display as Priceless" box is especially useful for experiences, art, or donor-submitted items where market value is subjective.
📄 Option 2: Importing Items via Template
When using the Item Import Template:
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Column H (FMV):
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Leave it blank or enter 0 to show as Priceless.
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Any value greater than 0 will be treated as a taxable FMV.
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Even if an item displays as Priceless, bidder receipts and reports will still show the FMV if one was entered in the template.