Donate a Junk Car NJ
Many
people wonder if you can donate your car to a specific person, under privileged
family or disabled veteran, and still be able to get a tax credit for it
without it being an organization.
The answer
is No. You only get a tax credit if you donate to a charity
recognized by IRS as a tax-deductible charity. Not every charity
organization qualifies for a deduction. The American Children’s Society
is a 501 (c)(3) reputable charity for junking a car in New Jersey.
Giving a
vehicle to an individual actually is a GIFT, not a donation, so therefore is
not eligible for a tax deduction.
You can
never donate directly to an individual or even a charity and direct the
donation to go to a specific person and get a tax deduction. The deduction is
available if you give to a recognized charity and only useful if you itemize.
The
American Children’s Society will provide you with a tax deductible form 8283 or 1098C and a receipt that verifies who has picked up your vehicle.
Junk a car through donation has never been so easy and
rewarding. This ensures that your vehicle is being used to help needy people. We
are recognized on the IRS website and local attorney general’s office.
No comments:
Post a Comment