Car Donation Wizard mails a tax receipt for your records following the sale of your vehicle.
3) The IRS will only allow a deduction for the fair market value of the car.
This can be found on the tax receipt mailed to you for your donation.
4) If the car is worth more than $500, the donor must complete Section A of IRS Form 8283 and attach it to their tax return.
5) If the car is worth $5,000 or more, an independent appraisal is necessary. The donor must also fill out Section B of IRS Form 8283. Take pictures of the car and save receipts for new tires or other upgrades to verify its value.
6) Always consult your tax adviser or the IRS for more information about how you can claim charitable deductions. The IRS can answer your tax questions and can provide tax forms, publications, and other reading materials for further assistance. IRS materials are accessible through the Internet at www.irs.gov, through telephone ordering at (800) 829-3676, and at IRS walk-in offices in many areas across the country.