Disclaimer: Giving Heart of America is not authorized to give tax advice. Nothing we state on this website, in writing, in person, or over the telephone is intended to substitute for the professional advice of your CPA, accountant, or tax advisor. Consult IRS Publication 526 for more information.
Per IRS guidelines and tax law, contributions to bona fide tax-exempt non-profit organizations are tax deductible for individuals itemizing deductions on their annual Federal Income Tax Return. Donations made to Giving Heart of America are fully tax deductible. We are a 501(c)(3) tax exempt organization per IRS determination. Our tax id is: 20-1557328 and our 501(c)(3) exempt DLN is: 17053279088014.
After receiving your donation, we will provide you an itemized tax receipt identifying the property received and the date.
Once the vehicle has been sold, we will provide you with the sales price, as that will be the upper limit of your tax deduction. Because we utilize a network of retail dealers who sell our donated vehicles (Managed Donation Program) directly to the public at retail prices, we believe that donations made to Giving Heart of America will result in the largest tax deductions available anywhere, much higher than with most other charities.
In the event we need to invest in substantial improvements (a new engine, a new transmission, major body work, etc.) we will also report that amount to you. The fair market value of the vehicle at the time of the donation can not be more than the actual sales price we receive less our investment in substantial improvements. (See Current Tax Law)
We are required to report to the IRS: donor identification information, the final sales price we receive for the vehicle, and the cost of any substantial improvements we make. We may need to request additional information from donors in order to do that.
For donations valued at $500 or less, the IRS will allow you to deduct up to $500. Your tax deduction is not limited to the price we receive when we sell your donation. (See Estimating Donation Value.)
For all donated vehicles valued at $500 or more, the IRS requires you to file two forms with your itemized tax return. The first is Form 8283, Non-Cash Charitable Contributions. The second is Form 1098-C, Contributions of Motor Vehicles, Boats, and Airplanes. We will provide both of these to forms to you already filled out.
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