- -Are vehicle donations tax deductible?
- Yes, vehicle donations are tax deductible. Please consult with your tax professional to determine how you may benefit.
- -How much can I claim for donating my vehicle?
- According to IRS Publication 561, vehicle donors are eligible to deduct the fair market value of the vehicle up to $500 or the amount the vehicle sells for at auction, whichever is greater.
Please consult with your tax professional to determine how much you may claim for donating your vehicle.
- -When will I receive my tax receipt?
- You will receive a tow receipt at the time of pickup that releases you from all liability from that point forward as well as allows you to take the minimum tax deduction without further paperwork.
In addition, you will receive a tax receipt within 30 days of the sale of your vehicle donation.