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May 8, 2009, Newsletter Issue #148: You need an appraisal if the car donation value is over $5,000.
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Tip of the Week
If your donation is worth more than $5,000, then you will need an appraisal and a signed 8283 tax form for your tax purposes. Most charities that accept car donations can arrange to have your vehicle valued by an independent appraiser and provide you with all the necessary documentation to properly claim your tax deduction without any cost to you. It is important to get accurate automobile donation valuations. The charity you choose can help you to learn how to value cars.
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