By choosing to donate your car to charity is a simple method of obtaining a tax deduction and is useful when you do not have time to sell it or do not want to accept an offer of low purchase from a car dealership.
Donate your car to a charity allows you to deduct the fair market value on your next tax return. Donate your car to a charity in Mesa, Arizona is a simple process.
instructions
• Go online or browse your local phone book to locate charities in Mesa that can legally accept your car and from which you can legally claim a tax deduction. Also, make sure you find out about their criteria for the condition of your car. Catholic charity and Breast Cancer Society Inc. in Mesa, for example, only accept new or used car in good working order. Both charities will pick up your vehicle for free.
• Collect the documents of your car, such as the certificate of title and smog. Car donation charities in some states usually requires the donor to have the car documents . Determine the value of your car. Go to the site Kelley Blue Book (see Resources) and enter information about the model of your car to determine its market value. You will need to know the value for tax purposes. You must document the car donation and its fair market value, according to the IRS.
• The charity that you chose to contact and schedule the time and day you want them to come and pick up your vehicle. Be sure to transfer the car title, sign any paperwork and ask for a tax receipt for your records.
• Contact the Arizona Department of Motor Vehicles in Mesa to update records. Turn in your license plates or transfer them to another drive, if applicable. Be sure to also contact your auto insurance company and let them remove the car donated by your car insurance.
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