Anyone ever donate a car to the american lung association (or similar)

[84c10]

I'm going to be moving in about 8 more days, and rather than take all the cars with me, I was thinking of donating one or two of them. From what I understand you rate the condition,maybe snap a couple pictures of condition for the irs just in case, print out a blue book value, and you claim that value on your taxes. would that be accurate? Just wondering how it worked and if there was any advantage to doing it or not.

 

[Travis]

Unless they are cars that are worth a lot of money, dont donate anything you would feel bad if it gets scrapped, because thats where a lot of them go.

 

[wlaukaitis]

Yes, I have donated a car to The american lung association. it was a 1993 honda civic (I should have done the head gasket and kept the car) I called them, took all my information and they told me when they would be there and all I did was leave the keys in the glove box. A few weeks later I got an IRS form that was blank in the mail. It had thier information on it. No numbers or anything like that. There was also a paper with values on it, High retail, low retail etc. High was $4000 and low was $2000(ish), My accountant took $2500 because although it was in good shape, many people donate cars that are junk and don't run and take the high value. That constitutes an IRS red flag, and they are bad.

I am sure the car had to run and be driveable (99% sure)

have the title if you want the tax write off, other wise it is useless to them.

If you are going to do it, go with a BIG organization (like American lung association etc.) I called a place that I heard on the radio and I felt they were shady.

I figured what the heck and donate it, why bother trying to sell it? I got it for free, needed a motor, put it in, drove it for about 1 year, then the HG went. What was I going to get $1000 if I am lucky? Yes, the cash would be nice but this was easier! And since I smoke like a chimney, maybe they can help me out some day!

 

[87ttypeV8]

so how much money did you actually get back for the car or rather how much money could you put on the tax write off... 2500$?

if so that seems pretty good

sorry i ask but didnt seem exactly clear in your post or i am just an idiot

i was thinking about donating a spare car my family has that is worthless but maybe someone else could benefit from it!

 

[84c10]

Thats along my train of thought... the car is in good repair and looks good, but you figure, "fair" condition book value is 2000, so by claiming that as a deduction, then you get back the ~30% you paid in taxeson the $2k or about $600.... Right?

 

[87ttypeV8]

eh that is decent if you would rather help others than make money... other than that kinda a rip off...

well i will consider even though im sure their value of the car will be quite low!

 

[84c10]

well, my understanding is several fold.... it can save alot more if it allows you to drop a tax bracket with the deductions, and you are under honesty to calculate your own vehicle value from blue books and subtract for damages yourself... not them.

 

[71RSZ28]

I've donated a couple of cars to the local Humane Society. They gave me some forms and told me that I would be responsible for determining the value, but they sent me a notice after they auctioned the car stating what it sold for (slightly over high blue book). My accountant then deducted that amount on my tax return. I seem to remember that if the value was over $5,000 I would have needed an appraisal to deduct the full amount.

It worked well for me because they were old cars with low book values. I'd rather help a good cause AND lower my taxes than take phone calls at all hours and go through the hassle of selling them myself for a few extra bucks.