What You Should Know About Charitable Car Donation

In the US today it's possible to donate a vehicle (usually a car, but it can be a truck, RV, boat or any form of transportation) to selected charities, and in return be able to claim a tax deduction on a personal income tax return. For values that are less than $500, the value of the tax deduction comes from the donor's own estimate of the car's value, even if the charity receives less money for actually selling the car. In 2005, the IRS rules were tightened to prevent donors from pumping up their deductions. Under the new rules, the deduction depends on how the charity disposes of the vehicle.If your junk or used automobile, truck, boat, motorcycle, RV or aircraft is no longer of use to you, it can still go a long way toward supporting the charity of your choice. Make sure you know where the title is when you email about a possible donation. Best of all, by not selling the car yourself, you don't have to worry about strangers calling you to get information about where you live, or coming to your house to see the car or other vehicle.