If a vehicle sells for less than $500, a donor may claim the selling price or the vehicle’s fair market value up to $500.
If a vehicle sells for more than $500, a donor can claim the exact amount for which it sold.
To claim a tax deduction, a donor must itemize a tax deduction on their tax return and submit documentation in the form of a written acknowledgment letter (we provide this to the donor at the time of pickup and again once the vehicle is sold) and/or certain tax forms (we can provide these to the donor upon request, such as Tax Form 1098-C).
We recommend that donors consult a tax advisor as well as the IRS for more specific information about charitable contributions.
See latest IRS information here.