Is It Better To Donate A Junk Car Or Sell It?
If the car is worth more than $500, the donor must complete Section A of IRS Form 8283 and attach it to their tax return. Donors are required to file with his/her tax return a written acknowledgement from the charity. If the charity sells the car, the charity must provide the donor with a certification that the car was sold at "arms length" between unrelated parties and the sale price of the car within 30 days. In this case, the donor's tax deductions will be limited to the total amount the charity sold the car for. Penalties are imposed on charities that provide fraudulent acknowledgements to donors.
Vehicle Donation to Any Charity, LLC (V-DAC), runs the Car Talk Vehicle Donation Program. V-DAC is registered as a 'fund raising counsel' with the State of California Office of the Attorney General. The program allows donors to make vehicle donations resulting in cash gifts to a designated public radio or television station, church, school or other non-profit organization. WHYY is pleased to be associated with V-DAC, a company known for delivering the highest net revenue to recipient non-profits compared with any vehicle donation program in the country.
Many charities now allow you to donate car online. You can find more information by clicking any of the links shown in the right-hand column of this page. If they don’t accept online car donations, then you can always contact them by phone. At that point, you will need to arrange to have the car picked up, or if it is in good driving condition, you can drop it off yourself. When you make the transfer, you will need to sign over the title of the car to the charity, and they will in turn issue you a receipt for the fair market value of the car. You will need to keep this receipt if you claim the donation on your taxes.
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