If you have an old car you are thinking about donating to charity this year…
Just be aware that the income tax rules on vehicle donations can be tricky. Generally, the donor’s Schedule A charitable deduction can’t exceed the proceeds the charity gets from selling the auto. Donors may use a fair-market-value estimate in limited circumstances. Organizations that receive a donated car valued at over $500 must send Form 1098-C to the donor, who is required to attach it to the tax return. Also, make sure to attach Form 8283 for charitable contributions of property that are greater than $500. Check out IRS Pub. 4303 for all of the details.