The 'donation amount' of a donated car is going to be whatever they sell it for. They'll write you a letter after your donation telling you the amount they got for it and that's the value you can write off on your taxes. Keep in mind that if you don't itemize your deductions (instead of taking the standard deduction), donating money to a charity has no tax benefit. If you are able to write it off, you'll probably only save $750-$1000 (of course this depends on your personal tax ...
Why should I Donate my Car to the Red Cross?
Your car donation to the American Red Cross enables the Red Cross to prevent and alleviate human suffering in the face of emergencies. Donating your car is a free service to you, and another great way to help us help others. How does the vehicle donation process work? Making a vehicle donation is easy for donors.
Which charities accept car donations?
The tricky part is finding a legitimate charity that qualifies for a charitable contribution deduction, has a mission you believe in, and uses its donations efficiently. Here’s a look at some of the top reputable charities that readily accept car donations. 1. Habitat for Humanity
Can you deduct a car donation from a charity?
Most charities sell donated vehicles, and your deduction is limited to the proceeds received from the sale. Once the charity sells the car, it should send you Form 1098-C confirming the sale date and price. For more details, check out IRS Publication 4303, A Donor’s Guide to Vehicle Donations.
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