Donating a vehicle can help some charity organizations to provide funds for their causes. As for the former car owners, they will get a tax write-off if they managed to donate their car. If you want to do car donation in Atlanta, you can check with the Donate for Charity Inc. tows as they will take your car to the nearest auction and cash out the money for charities of your choice. There are at least five donation sites in Atlanta who will take care of your unwanted car to an auction.
If you want to donate a vehicle and make the donation to a non-charitable organization under the IRS regulations, you can sign over the title and have it notarized to get a receipt. If it’s a non-charitable then skip step 3 and section 2, and you’re done.
To receive a tax deduction for your car donation, pick a charity of your choice in wherever location that suits you. Make sure that the IRS recognizes the charity as a 501(c)(3) by checking either the IRS Internet web site or Publication 78. The IRS compiles Publication 78 annually listing most organizations that are qualified to receive deductible donations.
Sign the title over to a duly authorized agent of the charity and have the transfer notarized. If the value is $500 and above you will get a receipt for the value of the vehicle as determined by the Kelly Blue Book.
If the vehicle value is greater than $5,000, the IRS requires that an independent appraiser appraises the vehicle and the receipt should reflect the appraised amount. If the charity sells the vehicle, you will need a copy of the sales receipt that you will need to deduct the amount for which the car sold, reflecting its fair market value.
If you donate for multiple vehicles you should repeat Step 1 for each vehicle. Donating multiple vehicles to deduct the donations on your taxes will require you complete Steps 1 through 3 for as many vehicles as you are donating.
