10 Tips Car Donate To Charity [ Booming Trend ] It sounds so simple: Donate your old car or boat go, not for charity

1. 10 Tips Donate a Car
To Charity

2. 1. Avoid Middlemen
Numerous for-profit intermediary organizations advertise aggressively
on TV, billboards and elsewhere, offering to help you donate your
vehicle to charity.
Here’s the catch: These organizations typically keep about 50 percent
to 90 percent of the vehicle’s value for themselves, and the charities
don’t get what they could have gotten. To prevent this, check directly
with charities you admire and find out whether they accept car or
boat donations.

3. 2. Find a worthy charity
If the charities you normally support aren’t
equipped to accept such donations, do some
homework until you find a reputable charity
that is. You can research charities’ track
records online at this Better Business Bureau
site and through Charity Navigator.

4. 3. Check the math
If you still feel compelled to use an intermediary
organization – possibly because you’re busy – at least ask
the organization how much of the car or boat’s value will go
to charity. If the organization simply gives charities flat fees
— say, $100 for a used vehicle regardless of its value, or
$2,000 a month — your donation may not be eligible for a
tax deduction.

5. 4. Know the status of
your recipient.
In order for you to qualify for a deduction, the charity that gets your
donation must be an IRS-approved 501(c)(3) organization. Your church,
synagogue, mosque or temple likely qualifies. (Check first just to make
sure.) You also can visit the Internal Revenue Service’s Web site and
search for Publication 78 to find other qualifying non-profit
organizations. (Just type “78” into the search field on the IRS home
page and you’ll be directed to the right publication.)

6. 5. Do the delivery yourself.
Once you’ve identified a worthy charity, recognize
that it will have to pay someone to pick up your car
or boat for you. To help the charity maximize the
benefit of your donation, drop the car or boat off
yourself.

7. 6. Transfer the vehicle with care.
Want to eliminate all risk of running up parking tickets and
other violations after you’ve said goodbye to your donated
vehicle? Then formally re-title the vehicle to the charity, and
report the transfer to your state’s department of motor
vehicles or licensing. Never agree to leave the ownership
space on the charity donation papers blank.

8. 7. Your estimate of the donation’s
value probably won’t cut it.
If your car or boat is worth more than $500, the IRS is
going to want to see evidence of how much the
charity got for it. (Most charities that accept these
donations turn around and sell them for cash.) You’ll
need to get a receipt from the charity revealing
exactly how much money it made.

9. 8. Know when you can report
the fair market value.
You won’t need evidence of the sales price if the
charity keeps the vehicle or vessel and uses it in its
charitable work, or if your donation is worth less than
$500.
Then you can report its fair market value based on
listings from Kelley Blue Book and similar sources.

10. 9. Keep a thorough paper trail.
If your donation is worth more than $500, you’ll have
to attach IRS Form 8283 to your tax return.
If it’s worth more than $5,000, your documentation
must include an outside appraisal. You’ll also need
proof of the donation, such as a receipt from the
charity and a copy of the title change.

11. 10. Be detail-oriented.
This paper trail may seem cumbersome, but think
about it: This may be one of the biggest charitable
donations you ever make.
By taking the time to dot the i’s, you can make sure
that the charity gets the most benefit and you get the
biggest possible deduction.

12. Car Donate
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