Donating My Car (Financial Experts Help!)

[kerrywins]

If I donate my car to a non-profit organization...can I only get a tax deduduction if I itemize my taxes?
Normally, I do not itemize.

[fob]

1. I'm not positive, but I think that is true. As for the valuation, if it

is over $5,000 there is a seperate form to fill out to support the valuation.

[Gelliebeans]

2. you have to write it off on a Sch A

but you can itemized if this deduction is over the standard deduction depends on filing status

[kerrywins]

3. so...I have to itemize?

?

[Gelliebeans]

4. you will itemize if your

deductions exceed the standard deduction meaning that if you file single with no dependents that your deduction amount is 4750 so you will be able to itemize if your car donation charity contributions misc work deduction and medical deductions along with DMV fees and real estate taxes and mortgage interest EXCEED this amount if they don't then you will take the standard.
I hope that helps.....

[kerrywins]

5. i don;t have a house

so I won't be itemizing...
i'm no expert...but I think its as simple as that...

[Gelliebeans]

6. if you think the car donation will be less than

the standard amount of 4750 then you are right you won't itemize.

[kerrywins]

7. its a ford escort zx2

and the engine is gone....
its a '99