Can I claim a tax deduction by donating a used car to charity?

Can I claim a tax deduction by donating a used car to charity?
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1 Answer

Answer :

You can claim the estimated value of the car if you have donated it to charity.
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Related questions

How much of a tax deduction to car donations to charity receive?

Description : How much of a tax deduction to car donations to charity receive?

Last Answer : By law, you can only deduct the amount of money the charity eventually sells the car for.

What is the maximum tax deduction for an auto donation to charity?

Description : What is the maximum tax deduction for an auto donation to charity?

Last Answer : The maximum tax deduction for an auto donation to any charity is the full value of the vehicle donated. You can not write off more than the vehicle's full value.

How do I stop my elderly mother from donating to every charity that asks for money?

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Last Answer : I have ATT for my home phone and they have a feature that blocks solicitations. I was getting 3–5 calls per day asking for money, now I get none. It works pretty well and I haven’t missed any calls from real people. I don’t know if any other vendors have this feature but ATT does.

Is one charity better than all the others for donating money for Japan?

Description : Is one charity better than all the others for donating money for Japan?

Last Answer : answer:Just check with a site that authenticates charities (such as charitynavigator.org) before giving, because fake charities spring up overnight. You are best giving to an established charity like the American Red Cross.

When it comes to donating money to charity, is there any way to find out exactly how much of your donation is going directly to where it is needed most or if your donation is being used for administrative costs for the charity itself or for other expenses?

Description : When it comes to donating money to charity, is there any way to find out exactly how much of your donation is going directly to where it is needed most or if your donation is being used for administrative costs for the charity itself or for other expenses?

Last Answer : http://www.charitynavigator.org/?gclid=CJT7kJHeuZcCFRZjnAoddG40SA http://www.samaritanguide.com/?gclid=CLDYmqHeuZcCFRpknAodPRVOTQ http://www.charitablechoices.org/checkout.asp

The expansion of the definition of marketing to include nonbusiness activities adds which one of these examples to the field of marketing? VU Cafeteria A)Proctor and Gamble selling toothpaste. B)St. Pauls Church attracting new members. C)PepsiCo selling soft drinks. D)Lever's donating 25 pence to a charity with every pack purchased.

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How much of a tax write off can I expect for donating a junk car?

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Last Answer : By law, your deduction is limited to the amount the charity sells the car for, so for a junk car, you're not going to get much of a deduction.

If I made a car donation can I qualify for a tax deduction?

Description : If I made a car donation can I qualify for a tax deduction?

Last Answer : No this year they are giving no tax breaks for that.

Do you think we should get a tax break for donating to our friends or family in need?

Description : Do you think we should get a tax break for donating to our friends or family in need?

Last Answer : answer:Interesting question. My first reaction is that if you can't afford to just do it, then don't. Obviously, the people you knew could afford to give that away, of they wouldn't have. What ... It would be incentive to charity with the deduction helping offset the loss you'd take not trading in.

With a gross income of 30,000 and a 25% tax deduction, what is your monthly net income?

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Is it possible to get a tax deduction for an RV donation?

Description : Is it possible to get a tax deduction for an RV donation?

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Where can I go to donate my used wheelchair in the Seattle area that will also allow me to use the donation as a tax deduction?

Description : Where can I go to donate my used wheelchair in the Seattle area that will also allow me to use the donation as a tax deduction?

Last Answer : Goodwill donations are tax deductable, and there are several stores in the Seattle area where yuo can donate your wheelchair. You may also want to look for a local charity for the disabled, or homeless shelter, as it is possible both could take your wheelchair as a tax deductable donation.

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Last Answer : C. 8 years Explanation: An education loan can not only fund your higher studies but also help save tax. The interest paid on the education loan can be claimed as deduction, as per Section 80E of ... and is available up to eight years, or until the payment of interest in full, whichever is earlier.

Which of the following is an indication of lack of objectivity of an auditor? a. The auditor believes that accounts receivable may not be collectible, but accepts management's opinion without an independent evaluation. b. In preparing client's tax return, the CPA encourages client to take a deduction which the CPA believes is valid, but for which there is some but not complete support. c. Both a and b above would be a violation d. Neither would be a violation

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If you win a prize to donate to charity do you get it as a tax write off?

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If I am donating a car, who determines the value for a write-off?

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Last Answer : The IRS has tightened rules on car donation write offs. They intend that you can write off the fair market value of your vehicle.Edmunds.com has a nice discussion of the subject here edmunds.com/advice/selling/articles/48930/article.html.

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Do you still get a charitable deduction for junk car donation?

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How does one claim the 300/600 dollar college student tax refund?

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We have added our daughter to our Deed to our Home, by a QUIT CLAIM DEED. She is given the rite of survivorship& her name shows on the tax rolls. Would this have to go through Probate ?

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If the noncustodial parent claims the child as an exemption, but does not qualify for EIC or Child Tax Credit, can the custodial parent claim EIC, for which she qualifies with one child and file as Head of Household?

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How to claim child tax credit?

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How do you claim for foreign tax credit?

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How do I claim my back tax returns?

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Where could I donate a junk car to charity in Iowa?

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Last Answer : There are multiple charity options in Iowa that will accept a car donation. Most charities will give you the standard tax deduction form for donating including The Salvation Army, contact (402) 342- ... give you the choice between using your donation as a tax deduction or receiving a free vacation.

What is the best charity to donate my gently used car?

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Last Answer : Goodwill. They have many locations and an established reputation.

What is the best charity to donate my car to?

Description : What is the best charity to donate my car to?

Last Answer : There are several reputable organizations that you can donate your car to, including Kars4Kids, Cars for Kidneys, Cars for Homes. Whichever you choose, check the Better Business Bureau to make sure they are not a scam.

Where can I go to find places to donate my car to a charity?

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Last Answer : There are many websites to locate charities in your area. You can visit www.donate-car-for-charity.com.

Could a person change his/her mind about donating kidney to an ex? See Detail?

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Passed out while donating blood. Am I not a good donor?

Description : Passed out while donating blood. Am I not a good donor?

Last Answer : The same thing happened to me every time I tried. I stopped trying.

What are some of the personal questions asked when donating blood?

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Are there any risks to donating a used cell phone?

Description : Are there any risks to donating a used cell phone?

Last Answer : There must be someway to delete everything on the removal chip (SIM card) If not, you can remove it and then the phone will need a brand new one before it will work but your privacy will be protected. The SIM card is visible in the back, once you have removed the battery.

Would you ever consider donating your body to science?

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Last Answer : Of course. It’s in my will. No one else will be wanting it. Might as well do someone else some good when it no longer will do me any good.

Pregnant ladies, what do you know about donating your placenta for stem cell research and technology?

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Last Answer : I’m not pregnant, nor have I ever been, but most of the women that I know that have had babies recently have opted to donate their placenta. There never seemed to be any to-do about it, so I’m guessing that’s all there is to it.

Is donating sperm spiritually and morally questionable?

Description : Is donating sperm spiritually and morally questionable?

Last Answer : I think it is a very personal decision. Your friend felt it would be so for him because there would be kids he wouldn’t know about; others may not view that way. I don’t think there are absolutes in this matter.

What is the best way for a disease free, healthy person to evaluate the side effects of donating blood?

Description : What is the best way for a disease free, healthy person to evaluate the side effects of donating blood?

Last Answer : answer:It will kill you dead. Panic now! Ok, seriously. As someone who has donated blood before, many times, it's not a big deal. If you have an underlying condition that you don't know ... you're missing much more already! Plus they usually provide you with a meal or something after you donate.

I'm thinking about donating eggs; is there anyone who can tell me about the experience?

Description : I'm thinking about donating eggs; is there anyone who can tell me about the experience?

Last Answer : I can tell you about my friend's experience - it is not a piece of cake, that's for damn sure. You have to inject yourself pretty regularly and screw up your hormone cycle in order to produce more than one egg ... I wouldn't recommend it if you haven't yet had a child (if you want a child, that is).

When donating canned food, what is a good item to donate?

Description : When donating canned food, what is a good item to donate?

Last Answer : It isn't canned, but the best thing to donate for a food bank is peanut butter. It is an excellent source of non-perishable protein, needs nothing additional to prepare it, and is ... items. Otherwise, I would take something nutritious that doesn't need any additional ingredients to prepare it.

How can I repay some of the software companies that offer freeware programs (without donating money)?

Description : How can I repay some of the software companies that offer freeware programs (without donating money)?

Last Answer : If they have websites, see if their websites contain ads. Click on a few of their ads.

What do you think about donating your sperm/eggs or being a surrogate for others to have children?

Description : What do you think about donating your sperm/eggs or being a surrogate for others to have children?

Last Answer : Never have, but would, for anyone who needed it; for free. this type of thing should never be for profit

Can you smoke after donating blood?

Description : Can you smoke after donating blood?

Last Answer : I don’t do drugs, but I can tell you the effect of cigarettes is amplified. I would be very careful.

How does companies donating profits to charities affect your purchasing?

Description : How does companies donating profits to charities affect your purchasing?

Last Answer : answer:Companies donating to charity has no impact on me what so ever. Here’s a fact about the first year of the RED campaign that came out on TIME MAGAZINE: Money Spent on Advertisint: $ 100 MILLION Money Actually DONATED : $ 18 MILLION