z28/42k miles suggestions for apprasial prior to donating
I need to do some tax planning and have decided to donate one of my cars. Thinking about the Z28. Any leads on how to maximize an appraisal to ensure a respectable write off.
you can no longer take the full value in one year. If you are in the need of more write offs, I wonder why you seek tax advice on an automobile forum?
It doesn't matter what you value the car at any more, tax laws have changed.
It used to be that someone could donate say a $500 car and call it a $5,000 car on their tax return. IRS got wise to that practice.
Now, when you donate a car, you get a tax form back from the organization that you donated it to. It states how much they sold the car for.
That's the amount that is used as your tax deduction.
It used to be that someone could donate say a $500 car and call it a $5,000 car on their tax return. IRS got wise to that practice.
Now, when you donate a car, you get a tax form back from the organization that you donated it to. It states how much they sold the car for.
That's the amount that is used as your tax deduction.
Thread
Thread Starter
Forum
Replies
Last Post



We need a little more info than that

