A lot of people ask how the value of their donated car is determined
The value is dictated by the sale price in two different ways.
If your donated vehicle sells for $500 or less, you, the donor claim your assessment of the “fair market value” up to a total of $500. You write this donation amount on the donation receipt provided.
If your vehicle sells for over $500, you can deduct the full sale price of the vehicle. Within 20 days of the date your vehicle sells, you will receive a written statement showing the full amount your vehicle sold for and the date it sold.
In both cases, we provide you with all the tax documentation you will need to claim your deduction.