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05:38pm, 11/23/15

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New Information On Necessary Factors Of Donating Car To Charity

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millerovwb: When You Donated The Car, You Had Determined That The Fair Market Value Was $4,300. Your vehicle is picked up, sold, and proceeds benefit your local Make-A-Wish®, but you also get a 100% deductible receipt. Specifically, if your car is valued...

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millerovwb saved this page on 11/23/2015 05:35pm

When You Donated The Car, You Had Determined That The Fair Market Value Was $4,300. Your vehicle is picked up, sold, and proceeds benefit your local Make-A-Wish®, but you also get a 100% deductible receipt. Specifically, if your car is valued over $250, then you need to obtain and retain a written acknowledgement from the charity. You can file a regular 1040 tax form and itemize, even if the donated auto is your only deduction. The charities are reluctant to criticize the middlemen, because they don't want to lose the dollars they do receive, but state attorney generals are beginning to investigate and even prosecute these for-profit middlemen, for holding themselves out as charities and misleading the public on the amount that is actually reaching charitable causes. 5. Few vehicle donation programs can impact the quality of life of the disadvantaged as immediately and dramatically as the Charity Cars donation program can. They made everything so easy and the whole process was extremel

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