| The Car Donation Tax Deduction Process | | | | benefit the charity you choose and the less |
| Explained | | | | fortunate are able to buy the car at a charity |
| Are you confused on how to get your tax | | | | auction. The total amount of your tax deduction is |
| deduction for donating your car? Don't fret, you | | | | based on final sales price of your vehicle. |
| are not the only one. Thousands of generous | | | | 3. The towing company will give you a tax |
| donors have decided to donate their vehicle to | | | | deduction receipt for your vehicle donation. Make |
| various non-profit organizations such as the | | | | sure that the receipt has the organizations name |
| Vietnam Veterans of America, Cancer Research, | | | | and address, fair market value for your car and |
| local charities and Goodwill. However, here are | | | | the date. If the car is worth more than $500, the |
| some guidelines to follow when getting a tax | | | | IRS will require a IRS Form 8283. |
| deduction for your car donation. | | | | 4. Your car than is sold at an auction. Contact the |
| 1. Use Kelley's blue book to determine the fair | | | | car donation organization to find out any other |
| market value of your car. It would be wise to | | | | details about your car. Then you will be able to |
| give a lower estimate for the value of your car | | | | add your car donation on your tax return! The |
| because the IRS will never use the highest value. | | | | process is simple. If you follow these steps, you |
| Your car accessories, mileage and condition will | | | | can live happily every after knowing you helped |
| also affect the value of your car. | | | | the less fortunate and made your life a little bit |
| 2. Find a reputable tax-exempt charity to donate | | | | easier. |
| your car or truck. Your vehicle donation proceeds | | | | |