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