That's probably more for your "We sold it like we said we would" records. The car still had a book value, regardless of it's end sale price. You deduct the book value.
The vehicle I donated had a book value of $4500. I deducted about $3500 because I felt it needed a lot of work, and I doubt it sold for that much because that type of vehicle wasn't very popular and it wasn't something you could just dump on a lot and sell.
That's probably more for your "We sold it like we said we would" records. The car still had a book value, regardless of it's end sale price. You deduct the book value.
The vehicle I donated had a book value of $4500. I deducted about $3500 because I felt it needed a lot of work, and I doubt it sold for that much because that type of vehicle wasn't very popular and it wasn't something you could just dump on a lot and sell.
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