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Old 05-03-2018, 09:37 PM
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Join Date: Mar 2017
Posts: 5
Donating my Ď78 450 SLC to charity?

It seems there just isnít a market around Nashville for this car and Iím out of space.

A local charity is willing to give me a letter for a $9k tax write off to donate it to their scholarship auction.

Sadly, this seems like the best option unless someone on here has a better idea. California seems like the best market, but nobody wants to buy an antique car without a test drive, right?
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Old 05-03-2018, 09:59 PM
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Join Date: Mar 2007
Location: Hampton Roads, Virginia
Posts: 3,316
Unless you are in a high tax bracket, 9k will likely net you less than 20% in tax relief.

Instead of advertising the car for 9k (I know you didn't say you did this), perhaps post it for something nearer the actual benefit, and see if you can flush some interest out at the lower price.

Unless, of course, the car really isn't worth even that much due to it's condition. Then the tax offset would be higher than actual value, and financially your best course of action.

Jim
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Old 05-03-2018, 11:41 PM
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Join Date: Sep 2011
Posts: 548
Make sure you are beating the new standard deduction. I donated a car once only to determine that I got nothing for it because it was better to take the standard deduction.


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Past mb: '73 450sl, '81 280slc stick, '71 250, '72 250c, '70 250c, '79 280sl, '73 450sl, parted: '75 240d stick, '69 280s, '73 450slc, '72 450sl,
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