 |
|
Auto Donation Tax Deduction Forms
The tax deduction benefit for donating your car to charity was altered slightly by the IRS in 2005. Please check with a tax professional regarding your personal tax benefit.
The tax deduction generally applies to those who itemize deductions on their 1040 federal tax return. The amount of the tax deduction depends on the actual sale value of the Kidney Kar donation.
You are allowed to claim a fair market value up to $499 unless the vehicle sells $500 or more. If your Kidney Kar donation is sold for more than $500, you can claim the actual sale value as your deduction.
IRS Links for you and your tax advisor:-
IRS Publication 4303
- Donor's Guide to Vehicle Donations
-
IRS Publication 526
- Charitable Contributions
-
IRS Publication 561
- Determining the Value of Donated Property
-
IRS Form 8283
- Noncash Charitable Contributions
-
IRS Form 1098-C
- Contributions of Motor Vehicles, Boats, and Airplanes
Adobe Acrobat Reader is required to view the documents.
