donating cars in general for tax write-off is almost never worth it for most taxpayers
Yeah just sell it even if it’s a piece of shit. Find out what the write off would be and try to just get that or a little more. That’ll make the sale less stressful because I hate selling shit to people, and a car is the worst and most time consuming of it all (not counting real estate).
Well most cars aren't going to be worth more than the standard deduction these days so it wouldn't even count.
(and I hate that we have to know these bullshit things about taxation)
Def not worth it. You only get a deduction for the full value of the car if the charity uses the car for demonstrably charitable purposes, eg, actually delivering meals to poor people not just general use. (*edit: should've been i.e. not e.g. but ya'll get it)
If they strip it for parts or hawk below maeket value you basically get pennies on the dollar.
The charity actually has to follow up with you and give you documentation that they did indeed use it for charitable purposes, not just say they intend to, or you both can pay severely steep penalties.
Learned this as a friend was considering donating his car a few years ago. It was an old pos and he felt not right about selling it to someone knowing it was a junk. Thought he could donate it and maybe someone would get some use of it and he maybe gets some tax benefit.
Not really.
Apparently scammers like kars4kids and the like used to take people's decent and running cars that they thought they were making a nice donation out of and strip them for only the most valuable parts to hawk before just trashing the rest not deemed worth their time. So bad in the late 90s and early 00s that the IRS specifically change the tax laws do your car donoation was worth next to nothing unless a huge burden of proof was met by the recieving charity just to discourage people from doing it and supporting predatory charities.
Kars4Kids and the like are so bad they managed to make the IR fucking S look like the decent ones in the story.
May as well just sell it to a junkyard for scrap or parts. Better than giving it to k4k. That or give it to a family friend so their kid can learn what its like to have a POS to drive and value hard work.
The car picker uppers usually max out at $250 unless you have an expensive nigger/spic magnet or two (catalytic converter).
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