OK, so you’re ready to donate your car, but you just don’t know all that’s involved. Center For Car Donations has all the answers for you!
What if my car isn’t in working condition? In most cases, that’s not a problem. It definitely needs an engine. And it has to be tow-able. The snag would be if it’s going to cost more to tow than what it will bring at auction, there may be no point.
What kind of tax deduction can I expect for my donation? If your vehicle sells for more than $500, you are allowed to deduct the amount it sold for. In that case, you will receive Form 1098 C (Copy B, a Social Security Number will be required to obtain this form) after 30 days from the sale.
But, if your car sells for less than $500, there won’t be any IRS forms provided since you are not obligated to file any. Best to speak with your CPA or tax adviser. They will know best what your benefit(s) will be. Or, visit the IRS website at http://www.irs.gov/pub/irs-drop/n-05-44.pdf.
How quickly does someone pick up my car? Center For Car Donations wants to make this process easy and trouble-free for you. The vehicle pick-up time is always at your convenience. All the necessary information is obtained during the initial phone call and forwarded to our towing company. Within 24 hours of receiving your information, they’ll give you a call to set up an appointment.
What kind of paperwork can I expect to get during the process? At time of pickup, the towing company will provide you with a tow receipt. Then, within 4-6 weeks after pickup, you’ll receive an acknowledgement. But, if there’re title and/or paperwork issues concerning the vehicle, it may take a little longer. Once your vehicle sells, and if it’s over $500, that’s when you’ll receive the IRS Form 1098 C (Copy B, a Social Security Number will be required to get this form).
So you see? The process is so simple! Call Center For Car Donations at (877) 411.3662, or go to our website at www.centerforcardonations.com, and we will guide you through the process. It’s a WIN-WIN for you and those you help!