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Be sure to get a tax receipt for your automobile donation.Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Car Donation Tax Deduction and other Car Donation topics. Be sure to get a tax receipt for your automobile donation.If you donate a car to a charitable organization that plans to keep the car, and you wish to claim a tax deduction for your gift, you must determine its fair market value. The fair market value of your vehicle cannot be determined by a charity, since the IRS considers that to be a "conflict of interest." A charity's tax receipt for car donations is, however, proof that you made the donation. If the vehicle has a value of $5,000 or more, then a certified vehicle appraiser must determine the vehicle's value. |
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flowing to LifeTips readers and fans. Publish Your Book Now!
