I'm not sure on the steps, once they recieve your car will they give you a reciept and you would get the money back at tax time?
2007-10-11 01:43:10 · 3 answers · asked by smilez 2 in Society & Culture ➔ Community Service
Your donation is tax deductible.
The IRS allows you to claim a tax deduction of:
a)the value of your vehicle up to $500, or
b)the amount we sell your vehicle for - if it is more than $500
2007-10-13 13:47:24 · answer #1 · answered by FALL 5 · 0⤊ 0⤋
You will need the title to car in order to donate.
The steps may be different for different organizations, but all of them should give you a receipt.
You do not actually get the money back at tax time for the value of the car. You are able to deduct the value of the donation from your taxable income so that you pay fewer taxes.
2007-10-11 02:52:47 · answer #2 · answered by Theresa 6 · 0⤊ 0⤋
A lot of time you are better off selling the car and donating the money to charity. You used to get full blue book value for the car to deduct from your taxes, but now you are only allowed to deduct whatever the charity sells the car for, and they generally sell them very cheap.
2007-10-11 04:52:46 · answer #3 · answered by missbeans 7 · 0⤊ 0⤋