Used Car Donations Changes in the IRS

If your car seems to need repairs that are costlytax revenue in the millions.
every few months, maybe it is time to think aboutThe IRS has changed the rules. Now, if you think
replacing it. Giving your used car donation is a greatyour car is valued at more than $500, the deduction
way to take care of an old car you no longer needyou are allowed is limited to the actual selling price of
or want. There are many used car donationthe used car donation from the charity. The person
organizations that will be happy to take your agingwho is giving used car donation has to add a
car off your hands.statement of sale on their tax returns so that they
A used car donation can eliminate problems of tryingmay receive the deduction.
to sell your old car, such as being stood up forThe charity where you made used car donation has
appointments on a Sunday afternoon, or having toto provide you with this statement within thirty days
field numerous calls about the car at your home. Aof the donation. You no longer are entitled to know
used car donation can make getting rid of your old,what the deduction amount will be, before used car
used car easy and convenient as well as provide adonation.
charitable donation write off for your taxes.Don't let these new rules change your mind about
As in any "too good to be true" endeavor, manygiving used car donation. The system isn't perfect,
people took advantage of the ability to write off abut that doesn't mean that there aren't people who
used car donation. Instead of using the price at fairare benefiting from used car donation. Giving a used
market value, many people claimed the full retail pricecar donation is still far easier than trying to sell your
instead of the fair market value. That is far morecar yourself, so before you make any final decisions
money than the IRS intended anyone should makeabout what to do with your old car, research used
on a used car donation. What began to happen withcar donations.
used car donation, was the government was losing