| These are some of the most important and best | | | | whenever that occurs. They must also certify to the |
| charity car donation tips you'll need to consider | | | | donor how it intends to use or upgrade/repair the car |
| before donating your car, truck, van or other any | | | | and state in writing that they will not sell the vehicle |
| other vehicle. You can donate cars, trucks, boats, | | | | or transfer it to any other party. |
| airplanes, ATV's, even old motor homes and many | | | | 6. If your car is valued at $5,000 or more you'll need |
| other types of vehicles and get a good tax | | | | to get an independent appraisal and complete the |
| deduction. | | | | appropriate part of the Internal Revenue Service |
| 1. First it's important to know that the laws were | | | | form. |
| changed in 2004 limiting the donor's used car donation | | | | 7. For cars or vehicles that are worth under $5,000, |
| tax deduction to the amount the selected charity | | | | use either Kelley Blue Book or a guide from NADA to |
| ends up selling the car for. | | | | determine the current market value. Use the right |
| 2. You want to find out if the charity is rightly eligible | | | | and correct figure for the date, mileage, and car's |
| to be the receiver of tax deductible contributions so | | | | condition. Don't just pick the highest figure for your |
| make sure that you ask for the organization's | | | | vehicle year and model and not note other important |
| Internal Revenue Service's "Letter of Determination." | | | | factors. The IRS will look down on this. |
| This will verify their status. | | | | 8. Take several close-up pictures of the vehicle inside |
| 3. Make sure to get a good well-documented receipt | | | | and out. |
| from the charitable organization for your vehicle or | | | | 9. Save all your receipts for any upgrades including |
| car donation. | | | | any new tires to document and verify the car or |
| 4. In order not to send up any red flags on your | | | | vehicle's value. |
| income tax return know that the IRS looks carefully | | | | 10. It's important to know that it's not the charity or |
| at non-cash donations so make sure to clearly | | | | charitable organization, who is obligated to come up |
| document the correct car or vehicle value and keep | | | | with the correct value and you'll have to pay any |
| accurate detailed records. | | | | penalties if the IRS audits or challenges you and finds |
| 5. If your used vehicle is worth $500 or even more, | | | | your figures are unfounded. |
| then complete the newest Internal Revenue Service | | | | Finally be aware that some charities use a donated |
| tax deduction form, the number may change form | | | | car or vehicle for transportation or for hauling and |
| time to time, fill out the proper portion and attach it | | | | they benefit directly from the donation. But in most |
| to your income tax return. You must also include a | | | | cases the vehicles or cars are sold by the charity, |
| written acknowledgement from the charity. | | | | dealer or car donation center to help raise funds for |
| If your charitable organization sells your donated car, | | | | the charitable organization. When this happens, if it's |
| then they must provide you with the sales price | | | | the dealer, the charity may get only a flat fee and |
| within 30 days with a certification the automobile, | | | | may be as little as $50 for your used car. So check |
| truck, van or other vehicle was sold at between | | | | with the charity on how they intend to handle the |
| parties not related to each other. The donor's tax | | | | donation if this is important to you. |
| deductions must be limited to the total the charity | | | | These are some of the best charity car donation tips |
| sold the car or vehicle for. If they don't sell the car, | | | | you can put to use immediately if you're considering |
| they must provide you, the donor, with a receipt | | | | donating a car, truck or other vehicle to a charitable |
| within approximately thirty days of the sale, | | | | car donation program. |