Tax Deduction Information About Your Car Donation

When you choose to make a California vehicle Donation to benefit our Teddy Bear Cops Program, you can feel great in knowing that your donation will go towards a good cause. But you too can benefit from your car donation with an official tax deduction receipt. After your vehicle donation is picked up, we will send you an official tax deduction receipt, which you can use for that tax year.

How much can you deduct?

Thanks to recent tax law changes, it is now easier than ever to determine the value of your vehicle. When making a vehicle donation to us, you can deduct the full price we receive for the sale of your vehicle. This greatly simplifies the process for you in several ways.

If your vehicle sells for more than $500, you can:

  • Know the exact amount you may deduct, eliminating guesswork. This means you will not have to research and estimate the fair market value of your vehicle.
  • Deduct the selling price of your vehicle as its fair market value when filing your tax return. This eliminates the risk of getting into trouble by overestimating the value of your deduction.

What if your car sells for $500 or less at auction? In these cases, you can deduct what you determine as the fair market value of your vehicle or the amount the vehicle sold for at auction---whichever is less-as long as that figure is less than $500.00. As with any tax matter, it is always advisable that you consult with your accountant or tax preparer for more information about your tax deductions.

Vehicle Disposal Recycling Center: Home of the Fastest Towing Services in the Country

At Vehicle Disposal Recycling Center, we proudly accept a wide range of vehicle donations from donors all over the nation. Whether you wish to donate your car, motorcycle, or even boat, we can help you arrange for pickup, wherever you live for the fastest towing service available. All you have to do is fill out our car donation form and we will guide you through the rest of the process. If you are not eligible for a tax deduction, you can still donate your vehicle though our recycling program and enjoy other benefits, such as vacation packages and coupons.

For more information about your possible tax deduction, please contact us today!