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  1. #1
    Senior Member Bobsled's Avatar
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    Donating a car to charity

    I have an older car I would like to donate to a charity and get a tax receipt. Does anyone have experience with this? Any recommended charity?

    TIA
    Litespeed, lasts a lifetime.

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  2. #2
    The Site Administrator: Currently at home recovering from a couple of strokes,please contact my assistnt admins for forum issues Tom Stormcrowe's Avatar
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    on light duty due to illness; please contact my assistants for forum issues. They are Siu Blue Wind, or CbadRider or the other 3 star folk. I am currently at home recovering from a couple of strokes. I am making good progress, happily.


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  3. #3
    Senior Member Bobsled's Avatar
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    Thanks, I'll check it out.
    Litespeed, lasts a lifetime.

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  4. #4
    Senior Member thomson's Avatar
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    btw, Bob, make sure the rest of your return is legit as this is now a red-flag item.

    This was so abused the IRS had to clarify what the deduction is, it is NOT the KBB value (or what you think the value is) at the time of donation, it is what the charity actually sells it for. They wholesale it so you aren't likely to get anywhere near the deduction you think.

    A better method is to sell it yourself (even use a wholesaler if you want). Take the proceeds and donate it any way you wish.

  5. #5
    Climbing Above It All BikeWNC's Avatar
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    I donated a vehicle back several years ago. My CPA asked that I take pictures of the car, get local for sale ads for a comp, and pull the Kelly BB value. Be honest about the condition of the car. Realize that you will not be able to take the Kelly BB value as the deduction, it will most likely be closer to the local sale price. Document everything especially the charity to which you donate.

    edit. In my case, the car was not sold by the charity but given to a local person as aid in a back to work program. So my comp ads were used to determine the deduction.

  6. #6
    was kung-fu fighting lodi781's Avatar
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    most local fire departments will take them. You get a tax write off and they get a car to train on. check with your local municipality.
    " The love you withhold is the pain you carry, lifetime after lifetime."

  7. #7
    Senior Member thomson's Avatar
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    That is the old standard!! It has now changed.

    Here is an example of the old way (prior to January 2005), you have a car worth $3,000 that suddenly needs a new engine. You can put $5,000 into it and still have a car worth $3000 or donate it and write off the full $3000.

    The new law is you donate this car needing the engine to Father Flanagan who wholesales it for $100. That is your deduction, $100

    And, as I said, because this is so abused, a higher percentage of auto-donors are being audited than non-auto-donors.

    Deductor beware.


    Quote Originally Posted by BikeWNC View Post
    I donated a vehicle back several years ago. My CPA asked that I take pictures of the car, get local for sale ads for a comp, and pull the Kelly BB value. Be honest about the condition of the car. Realize that you will not be able to take the Kelly BB value as the deduction, it will most likely be closer to the local sale price. Document everything especially the charity to which you donate.

    edit. In my case, the car was not sold by the charity but given to a local person as aid in a back to work program. So my comp ads were used to determine the deduction.

  8. #8
    Royal Grand Exalted Pooba smoke's Avatar
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    Kars4Kids.org i did this at the first of this year. they pick it up, the car is auctioned, the money is donated to children's charities, and you get the tax write-off. they sent me the form stating how much the car sold for so i can write it off under the new tax laws. i recommend these people
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