Donate a car for tax credit
Do you have an old car that you don’t use anymore? Are you thinking of selling it or donating it? People sometimes decide to donate their old car or broken car because the cost of repair to fix it is much more than its value. Finding the right charity can be hard at times. Just make sure that your chosen charity is IRS accredited.
Claiming a Tax Deduction For Donating A Car
.If you want to claim a tax deduction for your donation, you should make sure that the charity or organization is qualified, otherwise, you can’t claim a tax deduction for your donation. The most qualified charities are section 501(c)(3) organizations like religious groups, educational and charitable organizations. To verify if the charity is qualified, you can check the IRS website « EO Select Check » tool, or you may also call the IRS tax-exempt division toll-free at (877) 829-5500. When calling, make sure that you have the charity’s name and address.