CAR DONATIONS FOR CHARITY

Facts about car donations for charity

Car donations, as non-cash contributions, have taken off in ways unexpected; and, although the process is quite easy, there are a few important facts about car donations for charity that every one should consider due to their uncontested usefulness.

First and foremost, you must select the appropriate charitable organization, which means it must be approved by the IRS; otherwise your donations would be void for tax deduction purposes. Hence, in order to have everything running smoothly we recommend you to adhere to a list of qualified organizations the IRS provides.

Said organizations may be found in the annual IRS Publication 78, Cumulative List of Organizations; and it is also accessible online at www.irs.gov/eo . Now, not every organization deemed qualified appears on this list, for temples, churches, synagogues and mosques, due to their religious stance, are not compelled to solicit the IRS for any previous validation. Therefore, all car donations directed to these religious houses of worship are utterly and tacitly approved; as well as any tax deduction claims that may result from said donations.

In addition to being qualified, your charitable organization of choice must send a notice stating the amount of the winning bid after your car is auctioned. This, by all means, is very important to expedite your tax deduction claim. The notice, or written acknowledgement, must render a clear description of services or gifts provided, if any, in exchange for car donations. Once all this is done, you may rest assured that your claims would not be considered as purposely understated, nor overstated by the IRS.

Related Links:
Car Donations to Charity
Car Donation Tax Deduction