Donating RV...
I was just curious if anyone has ever donated an RV? We are interested in getting rid of the HTT in my signature quickly and thought donation would work. We've tried to sell it for several months. W...
Forum Discussion
ol Bombero-JC wrote:Bumpyroad wrote:
there appears to be one for $4250 on the net. figure they'd sell it for $4000 or less, so you are talking about a tax credit of about $800 in a 20% bracket. so anything over $1000 is extra money.
bumpy
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Tax *credit*? - or tax *deduction*?
And....
The days where *you* were able to place the value of a charitable donation of a vehicle are long gone.
Tax deduction for donation of vehicles is limited to $500. by the IRS - *unless* it is appraised for more by a *licensed* appraiser.
Comments by tax *professionals* welcomed........:@
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Not a tax professional but well here you are in plain English:
IRS car donation booklet
In essence your tax deduction will be based on fair market value not blue book or NADA.
