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Archive for June, 2007

International Charity Accepts RV Donations

Saturday, June 30th, 2007
Looking for a charity to donate an RV? Family Care Foundation, www.familycare.org, is an umbrella organization with an international outreach. For the convenience of donors, it will process and collect your donated RV anywhere in the United States. The charity is a 501(c)3 that makes grants and provides services in developing nations. If you have questions on its finances, Family Care Foundation posts its annual reports on its Web site. For Americans seeking to donate an RV, the charity offers detailed instructions on how to do it, as well as links to IRS sites, if you have further questions. If you want to donate your RV, you can start the process by filling out an application online. There are dozens of other charities online that will take your donated vehicles, including RVs, campers, motor homes and trailers. If you need advice in making a choice, contact the consumer division of your state Attorney General's office.


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Research Tax Laws When Donating an RV

Friday, June 29th, 2007
Planning to donate an RV to charity? Do some research first on new laws and requirements, because you will need to itemize the contribution when you file your taxes. The IRS offers free information that explains tax laws enacted in 2005 for noncash contributions. The publications include: Publication 526, "Charitable Contributions"; Publication 561, "Determining the Value of Donated Property"; Publication 1771, "Charitable Contributions -- Substantiation and Disclosure Requirements"; Publication 4302, "A Charity's Guide to Vehicle Donations."


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You May Need to Get Your Donated RV Appraised

Thursday, June 28th, 2007
If you plan to donate an RV to charity -- and your RV is worth more than $5,000 -- you may need to get a written appraisal. The appraisal has to be done less than two months before you make the RV donation, and you need to have a copy of the RV appraisal when claiming a deduction for the RV donation. If the charity resells your RV for less than $5,000, you do not need the appraisal and cannot list that value on your taxes. You will be required instead to list the gross proceeds from the sale as the value of your deduction.


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Charity Must Notify Donor of RV’s Resale Value

Wednesday, June 27th, 2007
Donate Car For Charity Tip: When you donate an RV, the charity must notify you after reselling the vehicle. Expect an acknowledgement in the mail. The acknowledgement contains the resale amount, which will be the amount of your tax deduction. You will need to attach the acknowledgement to your income tax forms at tax time. The document needs to contain certain information for the IRS, including: * A certified statement that the RV was sold at arm's length between unrelated parties; * Sales date; * Amount of the sales proceeds; * Statement by the charity that the donor's deduction cannot be more than the sales proceeds. There is an exception to the rule, if the donated RV sells for $5,000 or less.


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