I'm not a tax expert, so I need some advice.

I've got an old Celica that Im trying to get rid of. I know I couldnt sell the car for more than about $450 since it looks like crap, but the book value is around $1,400
I'm single and claimed no dependents on my taxes. Would I be able to donate my car to the Salvation Army and write off the book value on my taxes?

 

I'll take it:santa:

 

If you don't have an accountant to answer the question for you, why don't you just call the Salvation Army and ask them?

My guess is they give you some kind of receipt with a $ amount on it for the value of your donation.

 

Tumba, if you want it, it's in NE Mississippi which is not that far from Arkansas. Ive driven the car to Omaha and back from MS and back and fourth from STL a couple of times. theres a pic of it in the 'show your other toys' thread from a couple of days ago

patrick.nurse@hotmail.com

 

Was that the one that came with it own firewood. If so, I'll take it if you throw in a woodstove.

 

hmm, starkville isnt too far from memphis. now, i need to find a trailer to bring it up here. sure u wanna give it away?

 

I'm not a tax professional.
I do know that neither your martial status nor your number of exemptions have any bearing on the legality of charitable contributions. I'm also certain that you may not deduct non-depreciated assets brought forth from the previous tax year.
(don't ask me how I know this, I will say I had the judge in stitches)

From your comments I think what you are trying to say is you do not 'itemize' i.e. File Schedule A. You are probably filing some kind of 'E-Z' two page 1040 and just take the Standard Deduction.

The bad news is chartiable contributions such as you are contemplating are only for us big boys that file 83 page tax returns and know how to cheat so bad it would make car salesmen blush.

 

1040EZ is what I filled out, and I don't know how to cheat on them yet.
I did not itemize deductions; that is where my concern lies. I doubted that I would be able to get away with this and it looks like I'm right.

If I dont give it away, Ill take $450 for it.
And it's in Tupelo, not Starkville, so it would be a shorter drive for you.
It wouldnt start last weekend, it's been sitting for a couple of months and I think the battery is dead. I want you to be able to drive it if you are interested.

And I don't have a wood stove to go with it. I would snap a few more pics of it, but my dig. camera is broken. I'll try and get my sisters camera the next time I'm home.

If you're interested, email me because it may be a few weeks before I go home again and this thread will eventually be lost
patrick.nurse@hotmail.com