March 16, 2007, Newsletter Issue #48: Get a written appraisal if your car donation is worth more than $5,000.

Tip of the Week

Donating cars is easy to do, but if you intend to claim a deduction over $5,000 for vehicle donations, you must obtain a written appraisal of the donated property from a qualified appraiser. This must be accomplished prior to pick-up of your vehicle. Further, you must complete IRS Form 8283, Non-cash Charitable Contributions (http://www.irs.gov/pub/irs-pdf/f8283.pdf) and forward a copy to the charity or donation program. In this situation, a signature from qualified car donation organizations or vehicle donation programs is also required.

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