I bought a new SUV last week but I did not trade in my older SUV. I listed for sale but now I’m thinking maybe I should donate it. The Blue Book Value is about $2,700 but there about $700 in break repairs needed. So I listed it for $2,000 in Auto Trader. Would it be better to donate it to charity for the deduction?
Posts Tagged ‘Vehicle’
Which is better a $2,000 cash sale of an older vehicle or a $2,000 tax deduction for donating it?
16
Jul
How do I go about claiming a donated vehicle on my taxes?
21
Jun
I donated a vehicle to a friend of mine and I’m wondering how to I claim it on my taxes?? I’m useing turbotax.
Does anyone have a working vehicle they would like to donate to me?
07
Jun
Please! I really need your help! I’ll accept anything! My car just broke down in FL, while I was visiting family. I made it home to MD, but I’m struggling to get to work everyday. I need to get a better job, but It’s hard to do without transportation. If it needs minor repairs, I’ll take it. You let me know where and I will come and get it.
Thanks!
How is the value of a donated vehicle determined for tax purposes?
23
May
Want to donate a vehicle to local charity for a tax deduction, but don’t know how to establish value the the I.R.S. will except.
How can I get a tax write off for a salvaged vehicle?
23
May
I have a car that has lost an engine, and the clutch is worn out as well. I’ve had it looked at by several different mechanics and it will cost well more than the car is worth to have it reparied to a good operating condition. I’m also sure that I can’t donate the car to charity and write it off, because the car is not drivable unless it is repaired. So if I have it scrapped or auctioned off for salvage, is there a way that I can declare a loss on the vehicle and get a tax write off?
I have a car that has lost an engine, and the clutch is worn out as well. I’ve had it looked at by several different mechanics and it will cost well more than the car is worth to have it reparied to a good operating condition. I’m also sure that I can’t donate the car to charity and write it off, because the car is not drivable unless it is repaired. So if I have it scrapped or auctioned off for salvage, is there a way that I can declare a loss on the vehicle and get a tax write off?
I have used this car in a business. I used this car as a part of work that I do as an independent contractor. However, I also used the car as my personal vehicle as well.
When donating a vehicle, what do I do with the title?
15
May
Do I need to fill out any special forms?
What about the license plate?
My title does not have a detachable portion.
Does It Help Your Taxes When You Donate A Vehicle To Charity That Is Worth $5000.00? How Does It Work?
06
May
I’m New To This.
about donating my vehicle to Salvation Army?
03
May
Does anyone know what these people do to your vehicle after you donate it to them? do they sell it? or trash it? what exactly happens after the donation takes place?
I donated my vehicle because it’s a very old car and it doesn’t run anymore. It’s a 97 Pontiac?
20
Apr
Grand Am. I just talked to my brother, and he said that his wife’s family from another country just recently came to live here in the U.S. and he’s a mechanic, and he could have fixed the car for $500.00. It’s a blown head gasket, and the mechanic that I was dealing with said it would cost $1,000.00 to fix. I figured that I didn’t want to put anymore money into the vehicle, so I decided to donate it. I just talked to my brother yesterday after already donating the car, and now he tells me that this uncle of his wife’s just recently moved here in the U.S. and that he doesn’t have anything here, and that he probably could have fixed the car himself since he is a mechanic and so I guess I could have just given the vehicle to him, and I didn’t even think about that. I just donated it. So, what I am saying is that I am feeling a little guilty about donating it now instead of giving it to someone in the family who I know that could use it. What do you think?
How easy or complicated is it to write off a donated vehicle on my taxes?
20
Apr
I hear tax laws have changed regarding writting off donated vehicles. I mean, how bad can it be? If anyone experienced something like this let me know, or know much about the laws on car donations etc.
Any tips in getting rid of a vehicle?
11
Apr
I have a car that is broken down on the road. I have had it parked in a spot near the apt I used to live at for almost a year now. It is in very poor condition and dosen’t run. Its been collecting tickets and is uninsured. I’m in NY and was hoping that someone could help me with any tips on either junking or donating the car. I do not have the title or keys. This is important because I have been driving my car illegally without insurance for almost 4 months now. My liscence has been suspended and I need to hand in my plates but one of my current plates is on that car. Does anyoen know what happens once I hand my plates in? Do all parking tickets need to be repaid priot to getting my liscence and registration reinstated? Thank you.