On November 10 the charity sold your car to someone other than a needy individual without any significant intervening. For a more detailed overview the IRS.
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The most important step in deducting the value of your car donation is to insure the charity you donate it to is an IRS tax-exempt organization.
. You can check with your tax advisor or accountant to determine the amount of your benefit. Kars4Kids is a classified 501c3 nonprofit organization. When you donated the car you had determined that the fair market value was 4300.
On April 1 you donated your car to the local food bank. Vehicle Contribution Deduction of 500 or Less page 5. Car Donation Wizard is the car donation tool provided by commercial fundraising organization Advanced Remarketing Services which consistently passes on over 80 percent of the proceeds to the charities that contract with them including Habitat for Humanity.
Only the donations you make to these types of organizations allow you to claim the deduction. The deduction is of value only if the donor itemizes his or her deductions.
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