The sale of your vehicle will support a 501(c)(3) charitable organization so it is tax deductible. Since each donor’s tax situation is different we recommend that you consult your tax professional.
To learn more about how vehicle donations affect your tax status please visit www.irs.gov and search for “car donation”. The IRS has several articles and tips that will answer questions about your specific situation.
The following resources may be useful in answering questions about your particular tax situation.
As of January 1, 2005 the IRS has taken the guesswork out of determining the value of your vehicle for tax purposes. If your vehicle sells for less than $500 you can claim the fair market value of your vehicle up to $499. If your vehicle sells for more than $500 you can deduct the actual sale price of your vehicle. Auto-Donation.com will provide you with a receipt after your vehicle is sold. Also note a social security is not required if your vehicle sells below $500.
Your receipt will be generated as soon as the vehicle sells. In most cases you can expect a receipt within 30 days from the time we pick up your vehicle.
© 2012 National Council of the United States Society of Saint Vincent de Paul