What would my deductable be if i donated my car to charity?

Question

My car doesn't work and I'm thinking of giving it to chartity as a tax write off for next year.

Answer 1

If you are itemizing, you can only claim what the vehicle is worth, if the car does not run, what benefit is that to the Organization that you would be donating it to be.
If you are not itemizing your deductions, stick with the standard

Answer 2

The rules on vehicle donations have been tightened significantly. When you donate a vehicle, you are limited to the amount of money that the charity received when they sell it or the value they place on it when they put it in service for the charity. They must notify you of the amount and that is all that you can claim.

If the charity gives you a receipt without a value on it, you get no deduction at all. The old rule that allowed you do claim the "fair market value" of the vehicle is dead.

Due to the changes in the rules, most charities will no longer accept a non-running vehicle since they will only get salvage value for it and towing charges will often exceed the salvage value.

Answer 3

you will no longer be able to deduct charitable deductions until you're waiting to itemize (schedual a). as long via fact the finished of your itemized deductions are under your typical (for being married, single, and so on), you will no longer be able to 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 money donation.