Donate a car to your local charity is now easier than ever and has become a popular way to give and receive. Donating a car is not difficult, but it is important to keep in mind a few steps. Millions of people receive a tax deduction for donating unwanted charities their vehicles, but remember that your car donation is tax deductible only if you itemize deductions. You may want to talk to your tax professional.
Make sure your chosen charity is a qualified 501 (c) (3) organization to ensure that your donation will be tax deductible. Visit the IRS website 78 Post and search for charities. If the charity you have in mind is not listed, you are not a qualified organization, and your donation may not be tax deductible. The exception to this are religious organizations, which is Publication 78 from the list. If in doubt, call the IRS Customer Service account (877) 829-5500.
Find out if the charity prefers to handle donations of vehicles or own a company that takes care of this for them will be hired. There are several intermediary companies in Portland. They take a portion of profits before passing the remainder donation to charity, but some charities prefer to work with a company, as there is less to charity to handle. A simple phone call to charity will give you the information you need to keep going.
When you give possession of the car to charity, get a written acknowledgment that includes the name of the charity, a description of your car and a statement that no goods or services were provided by the charity in exchange for the donation .
Charity or the intermediary will have the title of the vehicle and the VIN #, year, make and model of vehicle and the approximate mileage.
Once the car is sold at auction, charity or intermediary will send you a receipt for the donation. You will need the receipt for your taxes, so be sure to submit to their various care tax receipts.
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