Bargain Sale

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Bargain Sale

The sale of an asset for less than fair market value with the intent of making a charitable contribution. For example, a grocery store may make a bargain sale if it sells food to a homeless shelter for $5,000 when it is worth $15,000. In this case, the grocery store may take a tax deduction for $10,000 (the difference between the sale price and the market value).
References in periodicals archive ?
Gift vehicles covered include outright gifts, bequests, charitable gift annuities, charitable remainder trusts, bargain sales, charitable lead trusts, beneficiary designations and retained life estates.
On past losses incurred because Seven-Eleven Japan refused to allow bargain sales, some have sought advice from legal experts like Masanori Nakamura, who said five people have consulted him and at least one is sure to sue the company.
But the bargain sales have left thousands of new and existing customers hanging on the telephone.
My husband's salary has been cut little by little for some time, so I buy things in bargain sales.
Such SOE bargain sales are a clear sign of the triumph of harsh market reality over the planned economy.
Their childhoods are being wrested away from them under the guise of purchasing power and bargain sales.
1011 rule applied to bargain sales to charity (under which the basis of bargain-sale property is allocated ratably between the gift portion and the sale portion, based on the FMV on the date of transfer and the consideration paid).
170A-4(b)-(d) provide the framework for the tax treatment of bargain sales.
Bargain sales of sewing machines by a sewing machine manufacturer to churches, schools and other charitable entities, in order to encourage training in the use of sewing machines and enlarge its future market (Singer Co.
Sales were sluggish despite bargain sales by outlets as consumers reduced their outlays due to decreased incomes amid the recession, it said.
1 percent in January from a year earlier on a same-store basis, marking the sharpest fall for the month under the current system of statistics since 1965 due partly to sluggish New Year bargain sales, an industry body said Thursday.
Winter bargain sales were also under way at some outlets.