Veterans gave more to defend our country than most of us can possibly understand, but many of them struggle after their service. There are many ways you can give your support. One of these is to donate your unwanted vehicle. If you have a car that you are considering donating to the cause of supporting veterans in need, especially those who have been in war, there are a few things you should be aware of. The following are among the most important.
The charity should be a recognized non-profit organization
Unfortunately, there are many people who scam money from those who are charitable, so you want to ensure that they are a reputable charity. One way to make sure they are legitimate is to check the Internal Revenue Website to see if the charity is listed as a non-profit organization. A search for tax-exempt organizations should bring up the charity you plan to donate your car to. Without this listing, the charity may not be legitimate, or they are a for-profit group. In this latter case, your donation will not be allowed as a write-off for your income taxes.
Charities can focus on the different needs of veterans
Some veteran charities will sell your car, then take the money and give it to a variety of veterans' organizations that serve the various needs of veterans. In many smaller towns, this may be all that is available. However, in metropolitan areas, you may be able to donate your car to specific veteran charities. For example, you may be able to support disabled veterans and their special needs, or you may be able to support homeless veterans and their needs.
Special considerations for the transaction
A veterans' charity may pick up your car, or you can drop it off at their location. If they accept cars that are not running, they will usually provide a towing service for you. You will need to sign over your title and get a receipt. At a later time, you will be notified of the value of the car. This will be used on your income tax return. If the charity sells your car, this amount will be what the car sold for. However, if your car is in good shape, it may be reconditioned and given to a veteran in need of transportation. The value of the car may be at the time it was given to the veteran and his or her family.
If you want to donate your car to a veterans' charity, look them up on the IRS website to make sure they are legitimate. If it is important to you, check where the money is earmarked. Remember to sign your title to the charity and get a receipt. You will receive a value for the car at a later time for your taxes.
Look into local car donation for veterans services to learn more.
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