Claiming Tax Deductions For Junk Car Removals Benefiting Charities

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My Car Donation Is Worth Over $250, Can I Get A Tax Deduction?

Claiming Tax Deductions For Junk Car Removals Benefiting Charities

Just because you've arranged for free junk car pickup and no money has exchanged hands, that doesn't mean your contribution can't be claimed on your income tax. The Internal Revenue Service (IRS) has clearly explained how to go about claiming deductions based on whether the value of your donation is $250 and over or more than $500. For donations in the $250 range (or over), you must itemize deductions on Schedule A of Form 1040 (this applies only to U.S. residents). In addition, you'll need to obtain written acknowledgement of the donation from the charity.

   

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