Is my car donation tax deductible?
Yes! CARE is a 501(c)(3) nonprofit organization. Donations, including vehicles, may be claimed as a deduction on your tax return. We accept all vehicles, including cars, trucks, motorcycles, RV’s, boats and more. If you would like to donate your vehicle, please go to our donation page or call 1-888-227-5500
How much will I be able to deduct?
Once your vehicle is sold, the selling price becomes the amount of your donation. If your vehicle sells for more than $500, you may deduct the full selling price. If your vehicle sells for $500 or less, you can deduct the “fair market value” of your vehicle, up to $500.
What’s the fair market value of my car?
The following websites can help you calculate your vehicle’s fair market value.
What documentation will be provided for my tax return?
Within 30 days of the sale of your vehicle, you will receive a written acknowledgment, or receipt, of your gift. The receipt will include:
- The gross selling price of your vehicle, if it sold for greater than $500.
- Year, make, model and VIN information.
- A statement that the vehicle was sold at arms-length between two unrelated parties
- A statement that no good or services were received in return for your donation.
Where can I get more information?
You can learn more by reviewing the IRS documents below or by consulting with your tax adviser.
Information in this section has been provided courtesy of our partner, Advanced Remarketing Services.
*Any links provided to websites of other companies are for convenience and are not an endorsement of a service or product.