The vehicle donation laws changed significantly in 2004 and then again were
"enhanced" in 2006 through the Pension Protection Act. They are absolutely
NOT donor-declared value.
You'll want to review IRS Publication 4302 and 4303 that were first
published back in 2004. The latest (2015) are at the download site.
These are now subject to the recapture rule essentially meaning the donor
can only claim what the vehicle sold for as reported on a 1098c (or similar
receipt). Only if the vehicle is actually used by the nonprofit can the
donor claim the "blue book" value.
John
John H. Taylor
Principal, John H. Taylor Consulting
2604 Sevier St.
Durham, NC 27705
johntaylorconsulting@gmail.com
919.816.5903 (cell/text)
Serving the Advancement Community Since 1987
On Wed, Jan 9, 2019 at 6:40 PM Anne August <
anne.august@simmons.edu> wrote:
> Car donations are gifts-in-kind, and are generally donor-declared value.
> Has the new law changed much in that regard?
>
>
https://www.irs.gov/publications/p526#en_US_2017_publink1000229709
>
> OT: The joy and beauty of SiriusXM is NO COMMERCIALS. How in the world
> did you find stations with commercials on them, and why didn't you change
> the channel??
>
>
> Anne August, Gift Analyst
> Simmons University
> 300 The Fenway
> Boston, MA 02115
>
>
> To all:
>
>
> Happy New Year!
>
>
>
> My wife and I just finished a 2,500-mile car trip to visit our son and his
> family in Texas. We listened to a lot of SiriusXM Radio, and heard MANY
> ads for a charity named "Kars for Kids," which I knew about and many of you
> may have heard of as well.
>
>
>
> Since I couldn't turn off my "work brain" completely over the holidays,
> two things occurred to me as I listened to the radio ads. First, the
> promised charitable deduction for a vehicle donation might be affected by
> the recent tax law changes and the donor's general tax situation. Second,
> the charity now offers (except in Oregon) a voucher good for a three-day,
> two-night vacation stay in exchange for any vehicle donation. No mention
> in the radio ad or on their website that accepting the voucher would affect
> the deductibility of the charitable gift.
>
>
>
> Of course, it also occurs to me that the voucher may be a way to
> incentivize donors to give even when a tax deduction isn't available to
> them.
>
>
>
> To me, this raises several issues applicable to charitable gift messaging
> more generally, from appropriate statements about possible charitable
> deductibility, to FMV of items offered in exchange for donations, to new
> donor incentives for donors no longer anticipating a charitable deduction
> for their gifts.
>
>
>
> S&W_clr-small
>
> Michael L. Wyland
>
> Sumption & Wyland
>
> 818 South Hawthorne Avenue
>
> Sioux Falls, South Dakota 57104-4537
>
> (605) 336-0244 or (888) 4-SUMPTION
>
>
>
> Web site:
http://www.sumptionandwyland.com
>
> LinkedIn Profile:
http://www.linkedin.com/in/michaelwyland
>
>
>
> "I never considered a difference of opinion in politics, in religion, in
> philosophy, as cause for withdrawing from a friend." - Thomas Jefferson to
> William Hamilton, April 22, 1800
>
>
>