Donating your car for a tax write off?

Juan Velasquez velasquj@rohan.sdsu.edu
Wed, 23 Jan 2002 11:57:39 -0600


At 06:43 AM 1/23/2002 -0600, Greg Amy wrote:

>Nope, you get to deduct its full value from your Adjusted Gross Income.
>Depending on your tax bracket, that means your tax bill will drop
>approximately 1/3 to 1/4 of the car's value.

You have to be able to itemize I thought.  It goes on a schedule A
itemized deduction.  If you are already itemizing, it does come out
of your adjusted gross income, but if you have very little stuff to
itemize (or don't itemize at all) you might run into problems getting
anything for it.

Juan