|
First of all, I am not a tax advisor nor an accountant - do not trust anything I tell you,
consult a professional before proceeding.
I'm simply going to relate my understanding, take it for what it's worth.
My understanding is that if you itemize deductions on a US income tax return, you can deduct the "fair market value" of a contribution to qualified charities. This applies to vehicles, airplanes, dog food, ... anything that a charity is willing to take. Usually the vehicle does not have to run and will be picked up. If the value is over $500 you need to get a receipt. Of course there are many other factors to be considered, I will not try to list them as there are many sites on the net with information on this.
Some references:
|