How To Donate A Car In California.
Are you ready to find out how to donate a car in California? Donating a car to charity is a wonderful decision on many levels. First of all, your donation goes to help a great cause. Plus, you get your old vehicle or junk car moved off of your property free of charge. You are also recycling an old vehicle, and you also get to claim the car donation as a tax deduction.
In this post you’ll find out some methods on how to donate a car in California , and what you can get in return.
Follow These Steps
- To donate a car in California, Start by submitting an online car donation form or calling the charity you wish donate your vehicle to. check that the charity is an IRS recognized nonprofit organization before you claim the car donation as a tax deduction,
2. The process for receiving the tax receipt for your donation may vary. Some charities will email you the receipt while others will have the tow truck give you the receipt at the time of pick up. This is just an initial receipt and enables you to claim a tax deduction up to $500. Check with the charity to find out what their procedure is for providing you with this receipt when you submit your vehicle donation.
3. Do not remove the license plate as in the state of California, the license plates do remain with the vehicle.
4. Filing a Release of Liability with the California Department of Motor Vehicles is an important step you do not want to miss when you donate a car. This Document release you from any future liabilities that arise after the donation of the car is completed.
Your Tax Deductions
5. If your vehicle sells for more than $500, or if it qualifies for a fair market value tax deduction, you will receive additional tax paperwork after the sale of the vehicle takes place. The amount of deduction to your taxes you will be determined by factors including the price the vehicle is sold for or whether the vehicle is classified as a fair market value car donation.
6. One Last tip, if you plan to claim your car donation tax deduction in the year 20XX, you must be sure to donate the car before the deadline of December 31, of that specific year. Don’t wait till the last minute as there could be delays that could result in you being unable to claim the donation as a deduction for the current tax year.