Donate A Car Charity Biography
Source (google.com.pk)
You can donate your car, boat or RV to Hidaya to help the needy. These vehicles are either donated to needy community members or sold whereby the funds are utilized towards other Hidaya projects.
Please fill out the Car Donation form and fax it to (866) 344-3292 or mail to P.O. Box 5481, Santa Clara, CA 95056-5481 or scan and email to mail@hidaya.org.
Please make sure that you submit a completed "Notice of transfer and Release of liability" form to your state DMV within five days.
Kindly be aware that IRS requires the donor to submit an appraisal of the donated automobile while filing for taxes, if the donor is going to claim the donation on his or her taxes. Please use the following links to learn more information.The maximum amount you can deduct on your income tax return is the fair market value of your car. Fair market value is the price a willing buyer would pay and a willing seller would accept for the car, when neither party is compelled to buy or sell, and both parties have reasonable knowledge of the relevant facts. Some fundraisers have mistakenly claimed that donors can, in all cases, deduct the full value of their cars as found in a used car guide (such as “blue book” value). A used car guide may be a good starting point to value your car, but you should exercise caution. The IRS will only allow a deduction for the fair market value of the car, which may be substantially less than the “blue book” value. Example: You donate your car to the local high school for use by students studying car repair. Your credit union representative told you that the “blue book” value of the car is $1,600. However, your car needs extensive repairs, and after some checking, you find that you could only sell your car for $750. Your charitable contribution deduction may not exceed $750, the fair market value of the car. For information on determining the value of your car,
see Publication 561, Determining the Value of Donated Property. If you used your car in a trade or business, see the rules for contributions of capital gain property in Publication 526.
Depending on the amount you are claiming as a charitable contribution deduction, you may need to get and
keep certain records and file an additional form to substantiate your charitable contributions. See the chart
Recordkeeping and Filing Requirements that follows.
You must obtain a contemporaneous written acknowledgment from the charity if the total deduction you are
claiming for a donated car is $250 or more. acknowledgment must include the name of the charity, a description (but not value) of your car, and one of the following:
■ a statement that no goods or services were provided by the charity in return for the contribution, if that was the case,
■ a description and good faith estimate of the value of goods or services, if any, that the charity provided in
return for the contribution, or
■ a statement that goods or services that the charity provided in return for the contribution consisted entirely
of intangible religious benefits, if that was the case. You must get the written acknowledgment on or before the earlier of the date you file your return for the year you make the contribution, or the due date, including extensions, for filing the return. A charity can provide either a paper copy of the acknowledgment to the donor, or a charity can provide the acknowledgment electronically, such as via e-mail addressed to the donor. Do not attach the acknowledgment to your income tax return; instead, retain it with your records to substantiate your contribution.
Depending on the amount of the deduction you claim for the car, you may have to file an additional form with the IRS with your Form 1040. If the deduction you are claiming for a donated car is greater than $500, you must complete Section A of Form 8283. If the deduction you are claiming is greater than $5,000,
you must get a written appraisal of your car (see Written Appraisal below). You must also complete Section
of Form 8283, which must include the signature of an authorized official of the charity, and attach it to your return.
Depending on the amount you are claiming as a charitable contribution deduction, you may need to get and
keep certain records and file an additional form to substantiate your charitable contributions. See the chart
Recordkeeping and Filing Requirements that follows.
You must obtain a contemporaneous written acknowledgment from the charity if the total deduction you are
claiming for a donated car is $250 or more. acknowledgment must include the name of the charity, a description (but not value) of your car, and one of the following:
■ a statement that no goods or services were provided by the charity in return for the contribution, if that was the case,
■ a description and good faith estimate of the value of goods or services, if any, that the charity provided in
return for the contribution, or
■ a statement that goods or services that the charity provided in return for the contribution consisted entirely
of intangible religious benefits, if that was the case. You must get the written acknowledgment on or before the earlier of the date you file your return for the year you make the contribution, or the due date, including extensions, for filing the return. A charity can provide either a paper copy of the acknowledgment to the donor, or a charity can provide the acknowledgment electronically, such as via e-mail addressed to the donor. Do not attach the acknowledgment to your income tax return; instead, retain it with your records to substantiate your contribution.
Depending on the amount of the deduction you claim for the car, you may have to file an additional form with the IRS with your Form 1040. If the deduction you are claiming for a donated car is greater than $500, you must complete Section A of Form 8283. If the deduction you are claiming is greater than $5,000,
you must get a written appraisal of your car (see Written Appraisal below). You must also complete Section
of Form 8283, which must include the signature of an authorized official of the charity, and attach it to your return.
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