Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Donating a Car to Charity and other Car Donation topics.
Find out how charities plan to use car donations. What the charity does with the automobile donation affects the tax deduction a donor can claim.
If the charity resells the vehicle, the donor can only deduct the amount received from the sale. If the charity uses the automobile donation for charitable work -- such as providing meals on wheels to shut-ins -- the donor may claim the fair market value of the vehicle.
Guru Spotlight |
Jerry Mayo |