- If you donate a car do you have to take the tax deduction that year or can you take it years later?
- can you still donate a car to a charity for a tax deduction?
- Do I get a tax deduction if I donate my car to charity?
- I want to donate my car to charity. In terms of tax deduction, does it matter which one?
If you donate a car to charity, can you defer the tax deduction for a year or two?
22
Apr
Judy
April 22, 2010 at 2:51 am
No, the deduction can only be taken for the year the donation is made.
Bob F
April 22, 2010 at 3:07 am
No, and be sure you get a receipt from the charity and if they sell it within 30 days, make sure you get a copy of the sales papers. There are special rules for donating cars that require additional documentation. You can google “donate car” and get a million good hits that will explain all that.
chatsplas
April 22, 2010 at 3:13 am
NOPE only in year made and you need the donation info from donee. AND if you wait to donate it, the value declines. AND, if you don’t itemize taxes, you don’t get any extra benefit. The standard deduction amount assumes you make some donations and have some deductions.
MrMojo1
April 22, 2010 at 3:45 am
No you can not.
But here’s another catch that others did not mention. The tax code was changed a few years back.
If you want to claim a auto deduction for charity, you must wait for the charity to sell the car (provided the charity did not use it in for their charitable purposes). The charity must provide you with a postcard or letter that states the date and actual price that the car was “sold” (i.e. auctioned off) for you to claim as a deduction on your return.
Now, you don’t need that letter/postcard if you claim $500 or less on your return for the auto donation but still need a letter to show as receipt for the donation!