Yes, you can only deduct it if you can itemize and you can only deduct what the charity gets for it if they sell the car. The only time fair n]market value comes into play is if the charity keeps and uses the car. For example if you donate a car to a church or synagogue and the pastor, priest or rabbi drives it.
Even if you get a $500 deduction and are in the 10% bracket that is only $50 off your taxes and you probably won’t get that because you won’t come close to being able to itemize. Most of us would be betteroff taking the junkyard price.
And then donate that money to the charity of your choice.
There is a charity near me that canceled their vehicle donation program because of all the ones they were getting that they actually had to have hauled to the salvage yard.
A lot of charities that appeal for donated cars have contracts with scrapyards to take these cars at a set price. Most charities don’t have the time, manpower or expertise to evaluate donated cars.
RE taxes, that was my point. If you do not itemize there are better options on disposing of ‘stuff’ in general. In my 68 years have only been able to benefit from itemizing once!
Now, back to vehicles!
Classic case of an abused car. Seat collapsed?
Front lens made of clear tape? I have two older Toyotas ('79 Celica and '82 Cressida) and I was able to get a new OEM lens from Toyota last year for my Celica. Clearly the previous owner had no clue as to how to maintain a car. How does a seat belt get worn out?. The belts on my 1970 Chevelle look like new, and even the buckles work (there are two for each seat, as each harness has its own, separate from lap belt).
After you donate the car, please don’t go around telling others that Toyotas don’t last.
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Well, one way would be to allow my wacky ex-boss to drive it for a few years.
For reasons that can only be the result of being brain-dead, the driver’s side belt was twisted into a rope-like mass that–of course–wouldn’t retract and was essentially unusable. And, lest you think that the other side of his car fared better, his equally brain-dead wife somehow managed to twist the belt on the passenger side into a similar rope-like mass.
I hated to ride in his car because I couldn’t use the shoulder harness, and because he was such a terrible driver, that harness was potentially very important.
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Mine just came unbolted. I tried to fasten it back. Need to double check it’s not lose again.
Yes, you should definitely check–it for safety reasons.
If it is LOOSE again, you could lose it.
