Now you don't have to because of the IRS Car Donation Tax Laws, your car donation to an IRS approved 501(c)(4) charity is still tax deductible and will fall into one of these categories:
- For low value vehicle donations you can claim the fair market value up to $500.00 without any additional paperwork besides the receipt we will provide at the time of the pickup.
- If the gross proceeds for the sale of your donated vehicle exceeds $500.00, your deduction will be limited to the actual sale price. You will also be asked by the donee organization to provide your Social Security for the purposes of completing its IRS Form 1098-C form. If your vehicle is sold, all proceeds will benefit the Disabled American Veterans of Minnesota.
We will provide you with a receipt stating the final sales price of your vehicle within 30 days of its sale.
We will work to get top dollar for your car donation, however most vehicles are sold "as is" at auction and are frequently sold for less then the Kelly Blue Book value.