- Dec 26, 1999
- 25,074
- 4
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I have a 95 Subaru Legacy with 202K miles on it which I'd like to get rid of soon. I'm not going to get a lot of money for it when I try to sell it, despite the fact it runs great with only a couple of issues.
What can I expect from donating such a vehicle to charity? I would do so in good conscience since the car still has plenty of life in it, despite the mileage. Do they usually give book value for the donation? How does that work when tax returns come around? Does the value of the car get deducted from my taxable wage? The way I understand it, this is how it works, so I'd get a portion (15-20%?) of the donation amount back when returns come around, right?
What can I expect from donating such a vehicle to charity? I would do so in good conscience since the car still has plenty of life in it, despite the mileage. Do they usually give book value for the donation? How does that work when tax returns come around? Does the value of the car get deducted from my taxable wage? The way I understand it, this is how it works, so I'd get a portion (15-20%?) of the donation amount back when returns come around, right?