Car Donation Tax Deductions 2015/2016
Official IRS Tax Rules For Donors
So you’ve decided to finally give that old junker of yours away to a charity. Good for you!
But before you go counting on cutting out a big chunk of your income tax, you need to make sure that you’ve crossed all your T’s and dotted all your I’s.
After all, every type of deduction has rules and paperwork, and donating a car to charity is no exception to this rule.
In order to claim your IRS tax credit, you must understand and follow the specific tax rules otherwise your deduction will be rejected.