Fair Market Value Exception
If the charity uses the vessel for its mission, you can deduct the fair market value of the vessel instead. For example, if the charity promotes marine safety and uses your donated vessel to do safety demonstrations, you can/could deduct the fair market value of the vessel. Similarly, if the charity gives or sells the vessel to a needy individual at below-market value as part of its mission, you can deduct the fair market value. For example, if the charity sells vessels to needy families at far below fair market value so that they can get around in an island community, you could deduct the fair market value.