Results 1 to 5 of 5

Thread: Donating a car

  1. #1
    God/dess shasta's Avatar
    Joined
    Sep 2005
    Posts
    2,175
    Thanks
    778
    Thanked 658 Times in 317 Posts
    My Mood
    Breezy

    Default Donating a car

    I did try a search first but came up with nada on SW. If I donate my car will I get a bluebook value tax deduction? Last year I paid in taxes appox. what my car that I am selling is worth. So, does that mean if I donate the car I will not have to pay taxes provided that I make the same amount of money this year? It sounds like a win win. I won't have to pay taxes and a charity that I want to support will get money from my car. I am going to ask my accountant. But is that how it works?

  2. #2
    God/dess
    Joined
    Jan 2005
    Location
    NJ
    Posts
    3,786
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default Re: Donating a car

    This has a ton of information and scenarios.

    We donated an old car a few years ago and were able to take full Blue Book Value because we donated it to a Fire Department who used it for Jaws of Life practices.

  3. #3
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: Donating a car

    ^^^ also beware the AMT, as congress has so far not extended the GWB AMT cuts beyond this year. If you're going to donate your car, do it this year !

  4. #4
    God/dess shasta's Avatar
    Joined
    Sep 2005
    Posts
    2,175
    Thanks
    778
    Thanked 658 Times in 317 Posts
    My Mood
    Breezy

    Default Re: Donating a car

    Thanks Melonie and Dylan. Yeah I had heard something about changing these practices. Looks like I might go the donation route.

  5. #5
    God/dess shasta's Avatar
    Joined
    Sep 2005
    Posts
    2,175
    Thanks
    778
    Thanked 658 Times in 317 Posts
    My Mood
    Breezy

    Default Re: Donating a car

    I just read the article. I think I am going to try to sell it first...

Similar Threads

  1. Moving and Donating
    By Sophia_Ashley in forum The Lounge
    Replies: 5
    Last Post: 08-24-2008, 10:21 PM
  2. Donating furniture question
    By Sophia_Ashley in forum The Lounge
    Replies: 13
    Last Post: 07-09-2008, 01:08 PM
  3. Donating sperm.
    By MsQwerty in forum General Board
    Replies: 23
    Last Post: 04-22-2008, 09:54 PM
  4. donating items.
    By Corgan in forum The Lounge
    Replies: 5
    Last Post: 10-26-2007, 02:46 AM
  5. Donating clothes for the girls?
    By kitana in forum The Lounge
    Replies: 7
    Last Post: 09-10-2005, 12:57 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •