2006-07-30 08:03:58 · 12 answers · asked by lizard 2 in Business & Finance ➔ Taxes ➔ United States
Yes it is. However, only for the actual value of the car.
2006-07-30 08:05:59 · answer #1 · answered by Stuart 7 · 1⤊ 1⤋
Yes. But instead of just deducting the book value, you have to find out how much the charity actually got in money. Usually it's a lot lower than the KBB value.
2006-07-30 08:06:23 · answer #2 · answered by jlee1224 4 · 0⤊ 0⤋
you may no longer deduct charitable deductions till you're waiting to itemize (schedual a). as long through fact the comprehensive of your itemized deductions are decrease than your common (for being married, single, etc), you may no longer deduct them. in case you itemize, then the Salvation military is interior the one hundred% classification (all of that's deductible), as long as that's a funds donation.
2016-10-01 06:39:21 · answer #3 · answered by Anonymous · 0⤊ 0⤋
yes it is but you only deduct what the charity sells the car for
2006-07-30 08:07:48 · answer #4 · answered by harleythom 3 · 0⤊ 0⤋
It is but the tax credit isn't near as lucrative as it was a few years ago when the law on this changed.
2006-07-30 08:21:54 · answer #5 · answered by Report Abuse 6 · 0⤊ 0⤋
Yes.
2006-07-30 08:06:16 · answer #6 · answered by Me 6 · 0⤊ 0⤋
Yes, if you contact The American Lung Association they will even pick it up for you. It doesn't even have to run.
2006-07-30 08:08:16 · answer #7 · answered by Sara 4 · 0⤊ 0⤋
Yes unless it depends on the state. Which state are you in?
2006-07-30 08:06:19 · answer #8 · answered by Hot Damn 5 · 0⤊ 0⤋
Yes, it is, but it flags you for audits so if you don't like being auditted I wouldn't do it. Best wishes
2006-07-30 08:06:12 · answer #9 · answered by colorist 6 · 0⤊ 0⤋
Yep. 4 specifics, you need to go to h&r block, or something.
2006-07-30 08:08:22 · answer #10 · answered by heatherbee 3 · 0⤊ 0⤋