Deductions for boat donations are equal to the price for which a charity sells the boat.

As of January 2005, IRS rules for vehicle donations, including boat donations, state that you may deduct the full price a charity receives for the sale of your boat. This process is much simpler than the previous fair market value system, and will reduce the risk of your overvaluing the boat. The charity to which you are donating should provide you with an initial receipt for the donation when the boat is picked up, and is required to send you a second receipt as soon as the charity sells the boat. That sales price amount is your tax deduction. Note that if the charity is keeping the boat for its own use or to make material improvements prior to re-selling it, you may still be able to use a fair market valuation.