Timing your car donation is everything!

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What are the IRS Car Donation Regulations?

Timing your car donation is everything!

The timing of your auto donation is critical. All charitable gifts must be made in the tax year for which you are filing the return. To claim a donated auto on your 2005 tax return (due next April 15), you must give it and all supporting documentation to a charity by this coming December 31. If you donate after December 31 of this year, the donation can be deducted for the NEXT tax year.

   

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Jennifer Mathes, Ph.D.