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Old 01-13-2018, 05:43 PM   #2
truckster
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Join Date: Jan 2001
Location: Orem, Utah
Posts: 7,806
Re: Anyone donated a truck?

If you're looking for the best return, it's not going to be by donating it. IRS rules say you can only claim the fair market value for the condition the vehicle is in. That's particularly a problem if it's not running, as the IRS considers non-running vehicles as worth next to nothing.

If you want the best return, you're going to have to sell it. If you donate it, you can claim it as an itemized deduction, but how much that's worth to you depends on your tax bracket. Let's say your truck has a fair market value of $1000. If you sell it, you might pocket $800 or $900. If you donate it, you can claim a $1000 deduction on your taxes - if you're in a 25% tax bracket, that's worth $250 to you.
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