arivee Posted February 2, 2010 Share Posted February 2, 2010 Has anybody ever experienced donating a car? I know the amount you get is tax deductible and will depend on how much the organization gets back when they dispose of the car. If you've disposed of the car through a charitable organization, do you nornally get the KBB value of the car? I want to make it clear - this is not a solicitation to sell. I am looking for opinions and information only -- any inquiries will be promptly ignored. If the mods are not comfortable with this thread, please feel free to lock or delete. TIA Link to comment Share on other sites More sharing options...
cmgogo Posted February 2, 2010 Share Posted February 2, 2010 well id never sell my sol, but i have donated a couple of cars. The way the group i dontated to figured it, was they gave me a recipt for the NADA mint value of the car. Link to comment Share on other sites More sharing options...
Xeryon Posted February 2, 2010 Share Posted February 2, 2010 Recently the tax department has SEVERELY cracked down on inflated vehicle donation values. The value you are supposed to receive is the actual auction price the auctioneer gets for the car. Which is usually 1/3 of KBB or NADA suggested value. So if you are donating a Sol you think is worth $3000 then it may fetch $1000 at auction and $1000 is all you are allowed to claim on your taxes. And promptly ignoring any inquiry as to selling your vehicle is a little harsh. If you can sell it for more then the auctioneer could get for it why wouldn't you? Then you can just donate the proceeds of the sale directly to a charity without worrying about the value to claim on your taxes. Link to comment Share on other sites More sharing options...
cmgogo Posted February 2, 2010 Share Posted February 2, 2010 damn that sucks, when did they start goin nazi on the donation ammounts (last car i donated was back in 01). But in all honesty, youll net more cash on a local sale than on egay. Link to comment Share on other sites More sharing options...
arivee Posted February 3, 2010 Author Share Posted February 3, 2010 Thanks for the info guys! I only stated that I will ignore any inquiries only because I wanted to respect the boards to keep any sales related conversation limited to the B/S/T thread, I did not mean to sound harsh. Its all good... Peace Link to comment Share on other sites More sharing options...
Xeryon Posted February 3, 2010 Share Posted February 3, 2010 You do realize you need to disclose details of said car now that you have spoken? Link to comment Share on other sites More sharing options...
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