Online Car Donation is a unique national Charitable Organization that provides “gifted” vehicle donations to struggling families and other Charitable Organizations.
how much can i deduct
By donating to Online Car Donation you still have the ability to deduct the full "Fair Market Value" of your vehicle (in most cases with running or repairable vehicles) because we make use of all functioning or repairable vehicles gifting to charities and individuals.
The allowable tax deductions for charitable contributions of cars, boats and airplanes (collectively referred to as "assets" IRS 4303) for which the claimed value exceeds $500 will depend how the asset is used by the recipient charity (Us). If Online Car Donation sells the asset without any significant intervening use or material improvement, your deduction is limited to the gross sales proceeds received by the charity. When Online Car Donation uses your vehicle donation in direct furtherance of our charitable purpose you as the the donor may deduct the "fair market value" of the asset. (According to the IRS, the donor, not the recipient charity, must determine the "fair market value" which the IRS describes as the price that a willing buyer and willing seller would agree upon if neither were pressured to do so.
so what is my used car worth?
Assistance with vehicle values can be found at:
Kelly Blue Book - Nada Guides - Intellichoice - Manheim Gold
Online Car Donation cannot legally determine the value of a car donation. The donor (you), not the recipient charity (us), must determine the "fair market value” themselves. The above used car value resources are provided for your information and consideration.
used car donation value example
If a vehicle with a "fair market value" of $3000 is donated directly to Online Car Donation and the we sell the vehicle for $2000, you as the donor can only deduct $2000. But, if Online Car Donation provides the vehicle to a disadvantaged person or another reputable charitable organization, you as the donor may deduct the full "fair market value" of $3000. Our goal is to place every vehicle. Learn More
Overall when you offer us a car donation, boat, trucks, motorcycle
or other vehicle, you can be assured that your donation and/or its
benefit worthy causes in the community.
Online Car Donation takes all steps necessary to provide responsible stewardship of your gift and will assist you in any way possible. For more information please feel free to call us 888-228-7320 toll free or email your inquiries for prompt care and response.
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