Donating a car to your favorite charity helps the organization and may give you a nice tax deduction. But you must itemize deductions and follow the rules. For a car worth at least $250 but not more than $500, you need a written acknowledgment letter from the charity with certain details. You must have this before you file your tax return. If your deduction is over $500, additional details are required and an acknowledgement from the charity must generally be received within 30 days of the donation. You may receive a Form 1098-C (Contributions of Motor Vehicles) from the charity. We need these documents when we prepare your return. Here’s more information: https://bit.ly/3HYRkp1
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