Estate Planning and Philanthropy columnist Conrad Teitell reviews the basics of donating a car or other vehicle to charity—an area where, after years of inflated claimed deductions, Congress and the IRS have tightened the rules.
April 21, 2017 at 02:03 PM
1 minute read
Your clients are importuned year-round by charities to contribute their autos and other vehicles.
The typical situation is this: Your client buys or leases a new car. The dealer offers peanuts for his or her old car. So why not give it to charity and take a charitable deduction? After years of inflated claimed deductions, the Congress and the IRS tightened the rules.
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