2002 Credit for Donating Motor Vehicles to the Wheels to Work Program: Fill out & sign online

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How much tax credit do you get for donating a car?

If the donated vehicle is sold for less than $500, you can claim the fair market value of your vehicle up to $500 or the amount it is sold for if less than fair market value. If the donated vehicle sells for more than $500, you can claim the exact amount for which the vehicle is sold.

How much of a tax write-off do you get for donating a car?

If the charity sells your car sells for $500 or less, you can deduct $500 or your cars fair market value, whichever is less. For example, if your car is valued at $650 but sells for $350, you can deduct $500. Charities are typically required to report the sales price of your car to you on Form 1098-C.

What is the IRS form for car donation?

Form 1098-C is the form youll receive after you donate a vehicle to a charitable organization. Charitable organizations send you this form after youve donated a car, boat, or airplane valued at least $500. You can use Form 1098-C to claim a deduction for your charitable contribution.