March 23, 2007, Newsletter Issue #49: Get your tax deduction for an auto donation.

Tip of the Week

You can deduct your contributions only in the year you actually make them in cash or in other property. Claim a deduction and file Form 8283 with your tax return for the year you contribute the property. For legal purposes, the date of donation is the date on which you endorse the donation paperwork, for example the date on which you sign over your title or odometer statement. Also remember that you must itemize the tax return in order to claim a tax deduction.

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