Has Anybody Ever Donated Their Car to Charity FOr the Tax Write Off?

b town legend

b town legend

109
10
Joined
Feb 10, 2011
I have a busted whip sitting in the garage that I don't have time to sell and probably couldn't find a buyer for if I wanted to. 
I want to donate it to charity for the tax write off. Has anybody done this before?

Thanks in advance.
 
I have a busted whip sitting in the garage that I don't have time to sell and probably couldn't find a buyer for if I wanted to. 
I want to donate it to charity for the tax write off. Has anybody done this before?

Thanks in advance.
 
good question OP.

ive always wondered how they go about appraising your car's worth.
 
good question OP.

ive always wondered how they go about appraising your car's worth.
 
my dad did it about 10 years ago, thing is when he did his taxes they wouldnt accept the write off
roll.gif
 
my dad did it about 10 years ago, thing is when he did his taxes they wouldnt accept the write off
roll.gif
 
I just did this. Theyve changed the laws so you dont get blue book. Basically the decide whether or not is worth their time. If so they pick the car up and it goes to auction. You get the write off for the value it sold for. I went through PBS' car donation deal. Pretty easy.
 
I just did this. Theyve changed the laws so you dont get blue book. Basically the decide whether or not is worth their time. If so they pick the car up and it goes to auction. You get the write off for the value it sold for. I went through PBS' car donation deal. Pretty easy.
 
It's based on what the charity sells the vehicle for or the FMV of the vehicle if the charity sells it for a lower price.  They will send you a form which you include in your tax return.  This amount is your non-cash contribution deduction however you have to qualify to itemize your deductions or else it's pointless.  There are also other exceptions so consult your tax preparer. 
 
It's based on what the charity sells the vehicle for or the FMV of the vehicle if the charity sells it for a lower price.  They will send you a form which you include in your tax return.  This amount is your non-cash contribution deduction however you have to qualify to itemize your deductions or else it's pointless.  There are also other exceptions so consult your tax preparer. 
 
I ended up doing it. Hella easy, no trouble at all.

Made a phone call, they came and picked it up, I wasn't even present for the pick up, just left the keys and title for them under the seat.

Guaranteed $500 dollar tax write off, if it sells for more than that at auction I just get whatever it sells for.
 
You must log in or register to reply here.

The ultimate sneaker enthusiast community.

NikeTalk was created as a way of giving back to both the sneaker enthusiast community and to the greater global community of which we are all a part.

NikeTalk is NOT affiliated with Nike Inc. in any way, shape, or form. All opinions expressed herein do not necessarily reflect those of Nike, Inc.

© 1999-2024 NikeTalk.com

Share this page

Back
Top Bottom