Tax Alert! Donate cars, boats to charity NOW before rule changes!

[elehhhhna]

Next year you can only wriet off whatever the reciever gets for it, versus this year's rule wwhich uses Blue Book value. If you have a clunker to unload, DONATE NOW--it may be worth more as a write-off than if you outright sell it!

FYI

[Dogmudgeon]

1. It figures

Just when I have a car I want to donate, too.

Blue Book at $1400. Reality at $29.95 plus tax.

--p!

[elehhhhna]

2. so do it! Hurry!

[7th_Sephiroth]

3. boo fing hoo

i wish i had the ability to just "donate" a car i wish i caould have a car made before 1978

[amazona]

4. Ok but please be careful

Be sure the car is not going to be crushed so the organization can sell the pollution credits.

A friend tried to donate his car and was unable to get the organization he contacted (The Salvation Army) to sign a form saying the car wouldn't be sold for pollution credits.

He actually ended up selling his car instead of donating it.

IIRC the tax write-off is not worth anything anyway unless you itemize on Schedule A. I've donated twice but won't do it again -- not worth it in the end in my circumstances.