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July 10, 2009, Newsletter Issue #157: Research Tax Laws When Donating an RV
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Tip of the Week
Planning to donate an RV to charity? Do some research first on new laws and requirements, because you will need to itemize the contribution when you file your taxes.
The IRS offers free information that explains tax laws enacted in 2005 for noncash contributions.
The publications include:
Publication 526, "Charitable Contributions";
Publication 561, "Determining the Value of Donated Property";
Publication 1771, "Charitable Contributions -- Substantiation and Disclosure Requirements";
Publication 4302, "A Charity's Guide to Vehicle Donations."
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