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Archive for October, 2006

Vehicle donation policies apply to all vehicles.

Friday, October 27th, 2006
Vehicles subject to the new IRS policies are defined as boats, aircraft, and any vehicle manufactured mainly for use on public streets, roads, and highways. However, this rule does not apply to donations of inventory.


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Check RV and motor home resources to determine your donation’s fair market value.

Thursday, October 26th, 2006
If your destination charity plans to keep your donated RV or motor home for its own use, or to improve it and re-sell it, you may be able to use its fair market value for your tax deduction. Determining fair market value will also be important if you made your donation prior to the IRS guideline changes that went into effect January 1, 2005. The following links can be helpful as you determine the fair market value of your RV or motor home: *NADA guides let you check values for Recreational Vehicles, motor homes, campers, trailers and 5th wheels with model years between 1986 and 2002. *RV Pricing Information will provide additional useful information on how to determine the fair market value of your RV if you plan to donate your rv to charity.


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Deductions for RV and motor home donations are equal to the price for which a charity sells the boat.

Wednesday, October 25th, 2006
As of January 2005, IRS rules for vehicle donations, including when you donate an RV or motor home, state that you may deduct the full price a charity receives for the sale of your boat. This process is much simpler than the previous fair market value system, and will reduce the risk of your overvaluing the boat. The charity to which you are donating should provide you with an initial receipt for the donation when the boat is picked up, and is required to send you a second receipt as soon as the charity sells the boat. That sales price amount is your tax deduction. Note that if the charity is keeping the RV for its own use or to make material improvements prior to re-selling it, you may still be able to use a fair market valuation.


For more Car Donation tips, visit http://CarDonation.lifetips.com

Motor home and RV donations are tax deductible.

Tuesday, October 24th, 2006
Like other vehicle donations, the donation of a Recreational Vehicle is tax deductible if the donation is made to an eligible organization and the donation is properly documented.


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