Car Donation In West Virginia, WV
What You Need To Know
Car donation in West Virginia is one way to put a major contribution into the hands of a charity.
However just having a car and the desire to donate it isn’t enough; you need to follow all of the rules and laws that govern vehicle donation in the state of West Virginia in order to donate.
Therefore, below we have provided answers to the main questions that those thinking about making a car donation in West Virginia might have.
1. What Can You Donate In West Virginia, WV?
If you have a car for donation
in West Virginia that’s a good start, but cars are not the only vehicles that you’re allowed to donated in that state.
You can, in addition to cars, donate trucks, RVs and SUVs, you may also donate motorcycles, boats, planes, helicopters, trailers, all-terrain vehicles, off-road vehicles, recreational vehicles and a number of other vehicle types.
If you’re not sure if the charity you want to donate to will accept the vehicle you have all you have to do is call and ask.
2. How To Maximize Your IRS Tax Deduction?
When you donate a car for tax deduction
you are given the value of the gross proceeds of the charity’s sale of your donation as a tax credit. However, if you put some thought into your donation then you can get an even larger deduction.
Claiming The Fair Market Value
For instance, charities that intend on using your vehicle for a significant period of time before sale (for charitable purposes), who will give your donation away for free to a needy person or who intend to sell your donation at a price significantly below fair market value (also to a person in need) are special cases.
When you donate in any of these situations you may claim the fair market value of your vehicle on the day you donated it as your tax deduction.
Partial Cash Payments
Additionally there are some charities that, once your vehicle is sold, will give you a partial cash payment. The cash has to be reported to the IRS, and it will be subtracted from your total deduction, but it’s an advantage for those that want an immediate benefit.
This is an option if you have a higher value car, truck or boat to donate.
3. What Documents You Need To Donate?
Where to donate a car is only part of your concern as a donor, since you can’t actually donate your car until you have the title in hand.
In West Virginia that means you need to have your vehicle title. The title both proves that you are the actual owner of this vehicle, and thus allowed to donate it, but it also provides a simple method of transferring the ownership to the charity.
How To Obtain a Replacement Title
If you don’t have your title on hand, or if you need a replacement car title, contact the West Virginia Department of Transportation. You will need to download and complete Form DMV-4-TR, Application for Duplicate Vehicle Title.
If you prefer to visit a local DMV office or talk to someone in person, you can find DMV branch offices on the DMV website.
For more information about vehicle titles and registrations in West Virginia, we recommend consulting the dmv.org website.
4. How To Release Liability Of Your Vehicle?
Whether you’re making a junk car donation
or you’re turning in a brand new machine, you have to pass liability as well as physical ownership to the charity you donate to.
In order to do that you have to fill out the transfer section of your title and notify the West Virginia Department of Transportation that you are making a ‘gift transaction‘.
As part of this process, the DMV requires that you complete a sworn ‘AFFIDAVIT OF TRANSFER OF OWNERSHIP WITHOUT CONSIDERATION’. If you do not do this, you could be liable for the tax due on the vehicle’s book value.
We recommend you consult the Department of Transportation call centerfor more information to ensure you conduct your donation in accordance with their requirements.
5. How To Maximize Your Charity’s Donation?
Charity car donations provide a huge amount of resources for charities, who can use these vehicles to help fund their operations and their causes.
Of course, if you want to help make sure your charity gets the most from your vehicle as possible there are some simple things you need to be aware of.
Presentation & Condition
For instance, clean up your car and make any necessary repairs before you turn it in. This is especially true for repairs that will increase the value of your vehicle for sale. While you don’t have to give only functioning vehicles, those will net a higher price than non-functioning ones.
Where Will Your Car Be Sold?
Additionally, avoid giving your donation to charities that use for-profit agents or who sell donations at wholesale car auctions (trade buyers will bid a whole lot less than a private bidder).
If the charity has to split gross proceeds with an agent, or if it sells at below retail prices, then they aren’t going to get the most possible for your vehicle donations.
6. Where Can You Donate Cars In Wv?
Whether you want to seek out an auto donation program
or a charity car auction
in West Virginia, you need to know where you’re bringing your donation to.
In West Virginia you should check the list of 501(c)(3) charities compiled by the Better Business Bureau at www.bbb.org and www.charitynavigator.org. You should find a number of good charitable causes in all the main towns and cities in West Virginia.
- Oak Hill
Once you have the charity you want to donate to all that’s left is to contact that charity and ask where in West Virginia you can take your donation.
Donating In Other States
According to IRS publication 4303, there is no geographical limit on where you might donate your car in the United States. Therefore, if you are located near a state border or you have identified a charitable cause elsewhere, donating in a nearby state may be more convenient.
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