I have a room mate who needs a car for work and school. He is currently temporarily disabled, physically and will never return to his regular job. We live in PA. A friend in NJ has a vehicle (car) that her father is willing to 'give' as a charitable donation, and will need a legitimate receipt for tax purposes. Anyone know the easiest way to do this, legally?
Thank you
2007-05-07 02:44:55 · 3 answers · asked by phleb4464 1 in Business & Finance ➔ Taxes ➔ United States
I don't believe that there is one.
To get a tax deduction, the car must be given to a charitable organization. It can't be given to an individual. Also, giving to a charity with the express directions that they give it to a certain individual also cancels out the deduction.
He could give it out of the goodness of his heart and not worry about the deduction but I do not believe that there is any way for him to give your roommate the car and get a tax deduction.
2007-05-07 03:05:56 · answer #1 · answered by Wayne Z 7 · 1⤊ 0⤋
There is no way to claim a charitable deduction when the property is given to an individual. You can only get it when donating to a charitable organization.
2007-05-07 13:30:25 · answer #2 · answered by stilhdr1963 3 · 0⤊ 0⤋
You can't. Donations to individuals, rather than to registered charities, are NOT deductible as charitable donations, no matter what the circumstances are or how worthy the recipient is.
2007-05-07 11:43:14 · answer #3 · answered by Judy 7 · 0⤊ 0⤋