Donated Vehicle

[Christian]

​A client donated a pickup truck to a charity last year. He tells me the Blue Book value is shown as $1,000. My understanding of donated vehicles is that a client can deduct  only what the charity receives for the donated vehicle. What is y'all's understanding ? 

[jklcpa]

It might depend on who the charity sells it to. There is a different handling if the charity sells it to a needy person at an amount greatly below its value.  Here's the IRS pub specific to donors of vehicles that explains each of the limitation regarding donated vehicles:

 

http://www.irs.gov/pub/irs-pdf/p4303.pdf

[michaelmars]

if the charity uses it in their function then you get blue book.  best to give an old car to the fire department to burn up and practice rescues with.  get full blue book.

[Jack from Ohio]

For the most money in his pocket, sell it on the street.