How late can I donate a vehicle and still have
it count towards a 2008 tax deduction?
As long as the title is properly filled out and signed by December 31, the
donation is in 2008. The title is just like a check and determines the legal
change of ownership and date of donation. However, titles that are signed and
left blank are not legal donation documents as the change of ownership to a
non-profit has not occurred.
Vehicle pick up does not determine the date of
donation so vehicles can be towed in 2009 for 2008 donations, as long as the
title is properly filled out and signed by December 31, 2008.
Vehicle pickup form:
CLICK HERE
What are the benefits of donating my car to
ISP?
ISP benefits by receiving a cash donation to fund new and existing programs and
increase community awareness through local events.
You benefit by being able to reduce your taxable
income when taxes are itemized. Plus you avoid the costs associated with selling
your car. No need to pay for advertising, no loss of privacy and possible
security risk, and no need to pay for vehicle registration, insurance, and
repairs to keep your car in running condition while you wait for a buyer.
Does my car have to be running to qualify for
donation?
In some cases we can take your car, running or not. However, it must have an
engine and be tow-able. Contact a representative at 702-743-4340 to find out if
your vehicle qualifies for pick-up.
What if my car won't pass the smog test?
We can accept vehicles without a smog certificate or current registration.
Do you only accept cars for donation?
A car donation is very important to
charities like ISP. The gift of a car donation can help the charity raise
revenue. We help you donate cars. Do your part to donate cars unwanted or unused
by yourself for others' assistance and we bet you will feel good about yourself,
too. Besides an auto donation, we also accept:
Truck Donation
Van Donation
Airplane Donation
Motorcycle Donation
RV Donation
Boat Donation
Trailer Donation
Real Estate
Lots
If you are uncertain as to whether or not your
vehicle is eligible, please call:
702-743-4340.
How long will it take to pick up my vehicle?
We make donating your car as simple and convenient as possible. In many cases,
vehicles can be picked up the same day.
Call our representatives at 702-743-4340.
Do I have to be with the vehicle at the time
of pick-up?
No. Special arrangements can be made by calling our representative.
What paperwork do I need?
The only paperwork needed is a signed, clear title (pink slip). Have your title
with you when you call-in your donation.
[Please note: a clear title indicates the title is in the name of the donor
without a lien].
Do I need a smog certificate in order to
donate my car?
For states that require smog certificates or safety inspections, you may donate
your vehicle without these documents.
What if I receive legal notices?
In the rare event that you receive any notification of a lien sale, DMV actions
or other activity related to your donated vehicle, please contact us at
702-743-4340 immediately for assistance.
Vehicle pickup form:
CLICK HERE
Tax Questions
How does the new law effect my tax deduction?
Donors are no longer responsible for determining the deductible value of their
donation. Instead, they will receive IRS Form 1098-C, Contributions of Motor
Vehicles, Boats, and Airplanes if the proceeds from the sale exceed $500,
stating the amount of the gross proceeds from the sale of the donated vehicle.
The amount listed on IRS Form 1098-C, Contributions of Motor Vehicles, Boats,
and Airplanes will be the gross proceeds of the deductible donation.
Will I get a tax receipt for my donation?
Yes, our driver will issue a receipt at the time of pick-up. This is not your
final tax receipt unless the sale of your vehicle does not exceed $500. This
initial acknowledgement will indicate your name as well as the year, make, model
and condition of the car you are donating. It will be your only receipt if your
vehicle sells for less than $500.
An IRS Form 1098-C, Contributions of Motor
Vehicles, Boats, and Airplanes will be mailed to you within 30 days of the sale
stating the amount of gross proceeds received from your car, provided your
vehicle sold for more than $500. This will be your tax receipt for your
charitable contribution.
How is the value determined on the vehicle
donated?
The value is determined by the gross proceeds raised from the sale of the
donated vehicle. You no longer have the burden of determining the value
yourself.
Does the new law affect ISP?
ISP has additional paperwork in reporting the gross proceeds raised from the
sale of the vehicle to the donor and IRS. The process of obtaining the cash
donation from the vehicle remains the same.
What can I claim as a deduction?
According to the tax law effective January 1, 2008, if the claimed value of the
donated vehicle exceeds $500, the taxpayer is limited to the gross proceeds of
the sale.
What if my car is valued over $5000?
Effective January 1, 2008, you are no longer required to have vehicles
appraised. The value you may claim will be the amount of gross proceeds received
from your vehicle.
Vehicle pickup form:
CLICK HERE
