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September 5, 2008, Newsletter Issue #120: Free IRS Guide Helps With Car Donations
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Tip of the Week
With all the new rules for car donations, the IRS has published a handy free guide for donors.
"The Donor's Guide to Car Donations" (Publication 4303) takes donors step by step through the process of donating vehicles to charity. The guide defines the kinds of vehicles accepted -- cars, trucks, RVs, campers, boat, motorcyles and airplanes. It also gives advice and discloses rules for choosing qualified charities. The guide informs taxpayers on how to calculate their tax deductions, and which forms they need to fill out to claim them. The guide helps with recordkeeping, and offers advice on how to avoid pitfalls when you donate a car.
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