Donating a car to your favorite charity helps the organization and may give you a nice tax deduction. But you must itemize deductions and meet strict requirements. You need a written acknowledgment letter from the charity with specific details for a vehicle worth at least $250 but not more than $500. You must have this before you file your tax return. If the deduction you claim is over $500, additional information is required, and an acknowledgment from the charity must generally be received within 30 days of the donation. You may receive a completed Form 1098-C from the charity. We need this document when we prepare your return. Here’s more information: https://bit.ly/3HYRkp1
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