Donate Vehicle To Charity

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Donate Vehicle To Charity

Find out how you can donate vehicle to charity.

If you have a vehicle that you do not use anymore, you can donate vehicle to charity and get a tax deduction instead. Not only that you get to help a charity that values and needs the donation. Make sure you donate vehicle to charity so that you too can get a tax deduction while filing your taxes.

What are the Tax Rules to Donate Vehicle to Charity?

If your car is worth less than five hundred dollars, you get a tax deduction according to your own estimate of the fair market value of the car. You can estimate this value by using Kelley’s Blue Book. However if your vehicle is worth more than five hundred dollars, you will need a record of its sale value, that is the amount the charity sold it for.

What Will You Need?

Before you donate vehicle to charity, you will have to take care of certain things. Make sure that you have the title of your vehicle. You can get a duplicate copy of the title from the DMV. Your car registration must also be up to date.

Choose the Charitable Institute Carefully

Make sure that the charity you are donating to is recognized by the Internal Revenue Services. You can find a complete list of 501(c)(3) registered charity on the official website of the Internal Revenue Services. Only qualified charities that are registered as non-profit organizations with the IRS can receive tax deductible vehicle donations. Once you have finalized the charity, contact them and inform them that you wish to donate your vehicle. The charity will arrange for the pick up of your vehicle. You can use the charity navigator to find the best charity.

Transfer the Ownership of the Vehicle To Donate Vehicle to Charity

You must sign over the title of your vehicle to the charitable institute. It is very important to receive a receipt for the donation of your vehicle as without it, you would not be able to claim a tax deduction when you donate vehicle to charity. Clean the car. Follow your state laws. Make sure you remove your license plates before you donate vehicle to charity. The license plates are not needed to donate vehicle to charity. You may keep these.

For more information on how to donate vehicle to charity, please visit www.charitydispatch.com

Donate Vehicle to Charity

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Donate Vehicle to Charity – Will you Get The Tax Deduction your Car is Worth?

When you get ready to donate a vehicle to charity one of the big questions that comes with it, is how to go about getting a tax deduction and whether you will get the deduction that your vehicle is worth. Since IRS has changed its rules on this, it is now uncertain whether you will get the deduction that you were hoping for. Instead of taking blue book value on your car, your deduction will now equal the amount of money that your car actually sold for at auction.

It is important to understand this when you donate a vehicle to charity, some people end up disappointed that they did not get as big a deduction as they hoped for. If you would like to know more about how to donate a vehicle to charity and how the tax deduction works, Charity Dispatch would love to help you.

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