St. Vincent de Paul charities are 501(c) (3) nonprofit charitable organizations. If you itemize deductions on your tax return, you may claim a deduction for your vehicle donation. Generally, donors who itemize their tax deductions can deduct the fair market value of any donated vehicle. For more complete information, see: IRS Publication 4303, A Donor�s Guide to Vehicle Donations at the IRS website. See additional links below.
Reporting requirements
SVDP-ADP�s Responsibility: We will provide a tax receipt for each car, truck, boat or RV donated. For a car, truck, boat or RV donation auctioned for $500 or more we will also provide the donor an IRS form 1098-C if the donor has provided us with a social security number. For a vehicle auctioned for more than $5,000 will also sign the donors Form 8283, Section B, part IV.
Donor’s Responsibility: If your car, truck, boat or RV donation was auctioned for $500 or more you will have to complete Form 8283 and include Form 1098-C with your IRS filing which itemizes deductions. Complete Form 8283 Part A for vehicles which sold for $500 but less than $5,000. Complete Form 8283 Part B for vehicles which sold for more than $5,000. If a vehicle is given to a needy person and the value is more than $5,000 then SVDP-ADP will provide a certified appraisal for IRS and sign your 8283 Part B IRS form.
Good Questions to Ask Before Donating
Is the organization qualified?
SVDP charities are IRS qualified 501(c) (3) nonprofit organizations. Taxpayers can make certain that they have donated their vehicle to an eligible organization by calling IRS Tax Exempt /Government Entities Customer Service at 1-877-829-5500 or go here and download Publication 78 which is a list of all IRS recognized charitable organizations.
Is the charity worthy?
Legitimate charities are worthy of your donation but you can look deeper into their financial practices. Taxpayers can view any charitable (except churches) organization�s state financial filings. Information like the percentage of revenue the charity spent on charitable programs versus the percentage spent on administrative costs is useful in determining the worthiness of a charity. For California charities, click here then click on Charities Search and input the name of the charity.
Who am I dealing with?
Ask those soliciting for your vehicle donation, who�s their employer. Do they work for the charity itself or a private fundraiser acting on the charity's behalf. If it is a private fundraiser, what percentage of the Gross Revenue is given to the charity? You can verify this information for California here
Will I get a good deduction for my vehicle?
SVDP-ADP tries its best to maximize the value of your car, truck, boat or RV donation. We specialize in selling good running donated cars in retail, instead of wholesale settings, to maximize your deduction and your charitable donation.
IRS links
The IRS website links for fast access to IRS regulations concerning vehicle and real property donations. Adobe Acrobat Reader required - download Acrobat here
For information about determining the Fair Market Value of a vehicle you can read Publication 526 Charitable Contributions here. Another IRS publication "Publication 561. Determining the Value of Donated Property" can be read here
Form 8283, IRS tax form for filing taxes can be found here. For instructions on this form go here. |
