Is there a charity that will repair and use a donated vehicle?

Question

The vehicle is a 1998 mazda millenia s 3.2l V6. The blue book value is $6,550. The cost to repair the vehicle is approximately $6,500. I would like to donate this car for tax deduction purposes. I am able to do this only if the charity is willing to do the repairs and use the car.

Is there a charity that is willing to do the repairs and use this car?

Answer 1

You can only deduct what the charity actually gets for the car. You have a car that basically has no or very little value, and you want to deduct the retail cost of the car on your taxes.

Once upon a time, you could get away with that, but things have changed now. Contact the IRS and see what they say about it.

So if the charity has to put in 6500 and then they sell it for 6550. Then all you really gave them was 50 bucks and that is what you can legally deduct for donation.

Good luck

Answer 2

touch a business enterprise like purple coronary heart and enable them to comprehend you have a vehicle you desire to donate to them. they're going to offer you a receipt for the vehicle, which will comprise the fee they are in a position to get for it. that's the quantity you will declare as a deduction. Be recommended in spite of the undeniable fact that, the vehicle donation is a purple flag to the IRS, so assume to be audited. they are seeking for to confirm to're remarkable claiming the deduction, and not in elementary terms making up some selection to cut back down on your taxes.

Answer 3

sometime and some high schools will take cars as a donation for their vocational training classes. They are normally set up to get free parts from various places, and it gives the kids some hands on experience in mechanics.

Answer 4

The nattered women society will accept this as a donation for tax purposes

Answer 5

good luck

Answer 6

no