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Copyright 2005 Dave Markel
Car donations have become a great way to help charity. People simply offer their unwanted vehicle to a charity. The charity either has a lot where the car is sold or has an auction company take care of the sale.
In the United States car donations are tax deductible. This has made car donations very
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You can give your car to charity and deduct the gross proceeds
from the sale if the proceeds are for more than 0. If the
claimed value of the donated motor vehicle, boat or plane
exceeds 0 and the item is sold by the charitable
organization, the taxpayer's claimed value is limited to the
gross proceeds from the sale.
The charitable
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Donating your car is a great way to help out worthy causes. Your
car donation is fully tax deductible, as long as the charity is
a registered 501(c)3 organization. It is best to check with the
charity or your tax advisor to ensure you are entitled to a tax
deduction.
Even though some of the car donation tax laws changed a few
years
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