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If you are using Turbo Tax there is a deduction spot for donating a vehicle. When you donate a car they give you a receipt for the appraised value of the car and you just punch in that information. If you don't have the receipt you can check out the blue book value of the car and put that in but make sure it is not more than what they told you because if you get audited they will want a receipt and you will have to go where you donated the car and get a receipt.
What else can I help you with?
Can I deduct my auto donation to charity on my taxes?
Yes, the IRS allows you to deduct your vehicle donation from your taxes. Visit IRS.gov for any forms you may need.
What amount can I deduct from my taxes for a charitable car donation?
You can deduct about 500 dollars through car donation
Can I deduct gas expenses on my taxes?
Yes, you may be able to deduct gas expenses on your taxes if you use your vehicle for business purposes.
Can you deduct the purchase of a used car from your taxes?
No. But an uninsured vehicle loss can be.
Is there a tax write off for making a car donation?
Yes. You can deduct the amount that the charity sells the car for from your federal income taxes.
Can I deduct miles driven for work on my taxes?
Yes, you can deduct miles driven for work on your taxes if you use your personal vehicle for work-related purposes, such as traveling to meetings or visiting clients.
Can I deduct points on a refinance from my taxes?
No, you cannot deduct points on a refinance from your taxes.
Can I deduct travel to and from work on my taxes?
No, you cannot deduct travel to and from work on your taxes.
Can I deduct losses on stocks from my taxes?
Yes, you can deduct losses on stocks from your taxes, but there are limits on how much you can deduct in a given year.
What is the max tax deduction for a car donation?
You can deduct the value of the donated vehicle. The organzation to which it was donated will give you a receipt. Use that, along with the blue book value, to determine the donation amount. Your accountant can advise you further.
Can I deduct state taxes from my federal taxes?
Yes, you can deduct state taxes from your federal taxes if you itemize your deductions on your federal tax return.
Can I deduct if I don't have receipt for donation?
You can deduct if you do not have a receipt for a donation however keeping receipts is best for accountability. Receipt provide and document proof in the event of an audit on your tax return .
