Charitable car donations or charitable vehicle donations are all about donating cars or vehicles which are charitable, means at least running therefore automobile donation charity can use it for further charitable purposes otherwise it would be junk car donation.
Of course it depends on charitable solicitation acts of car donation programs on media (online donations). Sometimes auto charities solicit donors for making junk car donation by advertising “accepting not running vehicles” and provide them unfair car deductible donation tax value which cause donors trouble for blind car donation.
So used car charity donation, charitable car donation, junk car donation terms have different use. You make used car charity donation but whether it’s charitable car donation or junk car donation. We’ve pointed out in all our articles to be picky about choosing auto charity you wish to donate car to.
Before opting for auto charity particularly through online donation (new charity), you need to make sure it’s a qualified charitable distribution. Figure their charitable deduction limit (%50-%30). Are they have any particular plan for charitable car donations or just accepting junk car for storing and liquidation. As a matter of fact, if donor wants to take action perfectly, should follows the steps below:
Verify the car charity is tax exempt organization by checking through IRS Publication 78 .
Determine the car donation charity whether properly registered with the state attorney general’s office or the secretary of state.
Ask questions about how the charitable car donation will be used. Will the donated vehicle be repaired and given to needy? . Will resold, how will resold? through charity car auction, dealership or general public. if so, what percentage of proceeds will be given to charity?
Certainly itemize your car tax donation deduction otherwise you can’t get tax benefit. (write down your deduction on form 1040).
Deduct fair market value.
Recordkeeping, Filing-Don’t forget getting proper document from charity for your charitable car donation.
Titling- You must pursue your donated car title processing. It’s a must.
The foremost thing to keep in mind while making a charitable vehicle donation is to take your time in choosing the best car charity donation. There are so many takers in the market, you may opt for an online donation but do not be deceived by colorful ads and television appeals but ensure that you do it preferably for a authorized non profit organization.
So make sure that your charitable car donation truly helps someone in need, truly brightens someone else’s life and is not just another opportunity for some organization to enjoy the returns from the charitable car donation.