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04bride
I'm a big sister!!!
Member since 5/05 6707 total posts
Name: Noel
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Where do you donate old cars to for a tax write off?
Anyone have the number of where i can call andthey will pick it up for you?
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Posted 11/1/07 8:38 AM |
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Long Island Weddings
Long Island's Largest Bridal Resource |
BRod-Cheng
I'm going to be a big brother!
Member since 6/07 1860 total posts
Name: Betty
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Re: Where do you donate old cars to for a tax write off?
Kars 4 Kids
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Posted 11/1/07 8:55 AM |
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bird382
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Member since 7/07 1712 total posts
Name:
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Re: Where do you donate old cars to for a tax write off?
We're donating a car this week to either American Cancer Society or the National Kidney Foundation.
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Posted 11/1/07 9:05 AM |
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lucyloo
nope
Member since 1/06 9758 total posts
Name:
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Re: Where do you donate old cars to for a tax write off?
Double D Bar Ranch
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Posted 11/1/07 9:09 AM |
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TheWhiteRabbit
Thru the rabbit hole!
Member since 7/06 4412 total posts
Name:
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Re: Where do you donate old cars to for a tax write off?
Just FYI - The IRS significantly changed the laws on donating cars as of Jan 1, 2005. You can no longer just write off Kelly Blue Book value. Make sure you find out what the charity is planning on doing with the car and that you get the written acknowledgement.
From the IRS website: The American Jobs Creation Act of 2004 will alter the rules for the contribution of used motor vehicles, boats and planes after Dec. 31, 2004.
If the claimed value of the donated motor vehicle, boat or plane exceeds $500 and the item is sold by the charitable organization, the taxpayer is limited to the gross proceeds from the sale.
Under the new rules, the charitable organization must provide an acknowledgement to the donor within 30 days of the sale stating the amount of gross proceeds. Alternatively, if the charity significantly uses or materially improves the vehicles, the charity must certify this intended use and duration and provide an acknowledgement to the donor within 30 days of the contribution. If the charity significantly uses or materially improves the vehicle, generally, the donor may deduct the vehicle’s market value.
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Posted 11/1/07 9:41 AM |
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dpli
Daylight savings :)
Member since 5/05 13973 total posts
Name: D
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Re: Where do you donate old cars to for a tax write off?
I donated mine to Habitat for Humanity. They contract with a salvage company who comes and picks it up.
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Posted 11/1/07 10:39 AM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name: Lauren
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Re: Where do you donate old cars to for a tax write off?
You can donate it to your local fire department. They will use it to practice extrications.
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Posted 11/1/07 10:50 AM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name: me
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Re: Where do you donate old cars to for a tax write off?
Posted by KittyTheStray
Just FYI - The IRS significantly changed the laws on donating cars as of Jan 1, 2005. You can no longer just write off Kelly Blue Book value. Make sure you find out what the charity is planning on doing with the car and that you get the written acknowledgement.
From the IRS website: The American Jobs Creation Act of 2004 will alter the rules for the contribution of used motor vehicles, boats and planes after Dec. 31, 2004.
If the claimed value of the donated motor vehicle, boat or plane exceeds $500 and the item is sold by the charitable organization, the taxpayer is limited to the gross proceeds from the sale.
Under the new rules, the charitable organization must provide an acknowledgement to the donor within 30 days of the sale stating the amount of gross proceeds. Alternatively, if the charity significantly uses or materially improves the vehicles, the charity must certify this intended use and duration and provide an acknowledgement to the donor within 30 days of the contribution. If the charity significantly uses or materially improves the vehicle, generally, the donor may deduct the vehicle’s market value.
I was just going to say that. You can only deduct what they get from the sale/auction for the vehicle.
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Posted 11/1/07 10:53 AM |
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