| So the deduction for donating a car is based on the | | | | you do not have to worry yourself with the list. |
| Fair Market Value (FMV) of your car. They are many | | | | In order to get the benefit of the vehicle you have to |
| ways you can get that value for your car. The most | | | | itemize on your tax return instead of doing the |
| common way would probably involve you going to the | | | | standard deduction. So make sure you are doing that, |
| internet, and there is a number of websites out there | | | | otherwise it is not going to be worth doing a donation, |
| that allow you to enter your vehicles information. | | | | you will be better off selling your car. You need to be |
| Information like the type of vehicle, the year, the model | | | | honest about the Fair Market Value of your vehicle |
| and then they calculate the fair market value. | | | | because the IRS will look for supporting documentation, |
| The IRS has a list of organizations that are qualified as | | | | including how you came up with the value. |
| donors, these are the only organizations you can | | | | You also have to document your donation. Get a |
| donate to and guarantee a deduction from the IRS. | | | | receipt from the place you are donating to and on that |
| However there is an exception to the rule, churches, | | | | receipt you should have the date, amount, address and |
| temples, mosques and governments do not have to | | | | your phone number. If you do not have that information |
| be on that list for them to qualify as places you can | | | | the IRS has every right to disregard the claim. The IRS |
| donate to. Most of the time, you are most likely going | | | | publication 4302 provides in detail further rules and |
| to be donating a vehicle to some kind of church, so | | | | guidelines. |