Car Donation Update

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Car Donation Update

elymiles

24th April 2006

Thanks to Michael from Car Donation Expert for the following:

There's something else related to car donation I'd like to point out: The charity you wish to support has to be a section 501 (3) (c) organization to qualify you to a car donation deduction tax.

Charities are educational, religious and charitable non-profit organizations. If the organization you want to donate your vehicle to is not a charity in the eyes of the IRS, you can't get a car donation deduction tax.

All legal charities are listed in the IRS Publication 78 called 'Cumulative list of Organizations' or on www.irs.gov/eo.

Even if you qualify for a car donation deduction tax, your deduction can not be larger than 50% of your adjusted gross income. There are a few other interesting things related to charitable car donations on a website called Car Donation Expert - you might want to check it out.