If your donated car is sold for over $500, we will provide you with a receipt stating the gross sale value of your vehicle within 30 days of the sale of your donated car. All proceeds will benefit Activated Ministries, a 501(c)3 Christian charity. If you donate a car that is worth more then $500.00, your deduction will be limited to the actual sale price of your car donation.
'Your car donation is tax deductible and will fall into one of these categories: For low value vehicle donations you can claim the fair market value up to $500.00 without any additional paperwork besides the receipt we will provide at the time of the pickup.
Checking the “blue book value” will give you guidance on the general value of your donated vehicle, but you should also take into account the overall condition of your car donation when donating to charity. There are many online resources for determining the fair market value of your car donation. However, if you are interested in a tax deduction when you donate a car, you should understand that in order to obtain it, you must itemize your deductions and not just go with the standard deduction.Ĭalculate the value of the vehicle you wish to donate to charity: Of course, many donors are not interested in the tax deduction and just want to donate a vehicle to charity so that it can be used for a good purpose. For taxpayers, the decision to itemize on Schedule A of Form 1040 is determined by whether their total itemized deductions are greater than the standard deduction.
In order to claim your car donation you must itemize deductions on your personal tax return. You can check the IRS status of the car charity you choose online by going to: IRS Charity Search. Be sure to have the organization’s correct name and its headquarters location, if possible. Or, if you prefer, you can call IRS Tax Exempt/Government Entities Customer Service at 1-87 and ask if the charity is qualified. You can also find Publication 78 in many public libraries. Donors can use the IRS Web site to check that an organization is qualified by searching Publication 78, which is an annual list of most organizations that are qualified to receive deductible contributions. If it is not a qualified organization, donating cars to them may not be tax deductible. Please if you are able to help in any way I will be forever grateful and will pay it forward any way I can.Donate to an IRS registered nonprofit organization:īefore you donate a car to charity, make sure that the car donation program you have chosen is a qualified, eligible, 501(c)3 IRS registered charity. I have prayed for months that somehow someway I receive some sort of assistance and all I've gotten was hit after hit of bad luck and the final straw is the news that my car has bit the dust. I am going through a divorce, live on my own, have 14&16 yr old dogs with health issues and debt that I am trying my hardest to pay off. Unfortunately, even with a friends help with a down payment, the payments on all used cars on the lot are just too high for me to afford. I found a dealer willing to give me a good trade in value on the car. I now have 4 yrs left of payments on a vehicle that is trash. My car skipped timing and the engine is now destroyed. Unfortunately after an oil cleaning and change, it still wasn't right and died at the shop. The solenoids again needed changing and again no oil. Fast forward 6 months and the car started "jumping" again. There was no oil in the car and the exhaust solenoids needed to be changed. 6 months ago it started "jumping" and stalling. I bought this car 2 years ago only a couple years old with very low mileage. I no longer have any way to get to and from work and I have to work to survive. Hi, my name is Jennifer and am in desperate need of a car.
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