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#CAR INSURANCE: CAR DONATION TAX DEDUCTION
CAR DONATION TAX DEDUCTION Step 3: Determine the amount of your deduction The exact amount of your deduction is dependent on what the charity does with your vehicle and on the vehicle’s value. Let’s break it down. IF THE CHARITY… YOUR TAX DEDUCTION IS… Uses the vehicle for its own purposes (such as delivering food to the needy or giving it to a needy individual) the fair market value of the
CAR DONATION TAX DEDUCTION
Step 3: Determine the amount of
your deduction
The exact amount of your deduction is dependent on
what the charity does with your vehicle and on the vehicle’s
value. Let’s break it down.
IF THE CHARITY… YOUR TAX DEDUCTION
IS…
Uses the vehicle for its own
purposes (such as delivering
food to the needy or giving
it to a needy individual)
the fair market value of
the
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