Comments on: Is my car donation tax deductible? http://www.donatecar-tocharity.com/is-my-car-donation-tax-deductible/?utm_source=rss&utm_medium=rss&utm_campaign=is-my-car-donation-tax-deductible Donate Car To Charity - 10 Steps On How To Donate Your Car To The Right Charity And Get The Extra Tax Right Off You Have Been Looking For Mon, 13 Feb 2012 04:00:18 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Tom http://www.donatecar-tocharity.com/is-my-car-donation-tax-deductible/#comment-3010 Tom Wed, 01 Feb 2012 22:41:58 +0000 http://www.donatecar-tocharity.com/is-my-car-donation-tax-deductible/#comment-3010 yes and the people you donate it to will provide you with proper documents to do so yes and the people you donate it to will provide you with proper documents to do so

]]> By: Cars4Charities http://www.donatecar-tocharity.com/is-my-car-donation-tax-deductible/#comment-3009 Cars4Charities Tue, 31 Jan 2012 00:22:33 +0000 http://www.donatecar-tocharity.com/is-my-car-donation-tax-deductible/#comment-3009 If the charity sells your car donation, you are entitled to a deduction of the greater of $500 or what the car is sold for. You do need to itemize on your federal tax return in order to claim it. If the charity used the car or gives it a needy person, you many claim the fair market value of the car. If the charity sells your car donation, you are entitled to a deduction of the greater of $500 or what the car is sold for. You do need to itemize on your federal tax return in order to claim it. If the charity used the car or gives it a needy person, you many claim the fair market value of the car.

]]> By: Jamerican Steve http://www.donatecar-tocharity.com/is-my-car-donation-tax-deductible/#comment-3008 Jamerican Steve Sun, 29 Jan 2012 00:53:31 +0000 http://www.donatecar-tocharity.com/is-my-car-donation-tax-deductible/#comment-3008 Yes but if your car is valued at more than US$500, then your deduction is limited to the charity's actual selling price which you are NOT entitled to know before donating your car. Second, to benefit from a car donation, you have to itemize your taxes. Your certified accountant can help you decide if donating is in your best interest, or you can ask the IRS at (800) 829-1040. IRS #,,id=96730,00.html Be sure that any charity you use is 501(c)(3) tax-exempt status with the IRS and that you hold on to your receipt as some charities are unable to give you copies later. Good luck and I hope I have been helpful. Steve Yes but if your car is valued at more than US$500, then your deduction is limited to the charity’s actual selling price which you are NOT entitled to know before donating your car.

Second, to benefit from a car donation, you have to itemize your taxes. Your certified accountant can help you decide if donating is in your best interest, or you can ask the IRS at (800) 829-1040.
IRS #,,id=96730,00.html

Be sure that any charity you use is 501(c)(3) tax-exempt status with the IRS and that you hold on to your receipt as some charities are unable to give you copies later.

Good luck and I hope I have been helpful.

Steve

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