Category Archives: Charitable Contributions

Taking Charitable Deduction on Vehicle

If you are the title holder, you can contact the charity and explain to them you want the donation to be in one of your parent’s names. You have to sign & transfer the title. Most vehicle donation programs use a 3rd party for-profit company. The company has a dealers license and charges a fee… Read More »

Limitations on Charitable Deductions

In general, a charitable contribution of tangible property is equal to the property’s fair market value. Treas. Reg. § 1.170A-1(c)(1). However, section 170(e)(1)(B)(i) provides that a donation of tangible personal property shall be reduced to its adjusted basis if the charitable organization (1) used the property in a manner that is unrelated to the organization’s… Read More »