|
Frequently Asked Questions :: General
Questions
What are the benefits of donating my car to Captial
Public Radio?
Capital Public Radio benefits by receiving a cash donation to fund
new and existing programs and increase community awareness through
local events.
You benefit by being able to reduce your taxable income when
taxes are itemized. Plus you avoid the costs associated with
selling your car. No need to pay for advertising, no loss of
privacy and possible security risk, and no need to pay for vehicle
registration, insurance, and repairs to keep your car in running
condition while you wait for a buyer.
Does my car have to be running to donate
it?
In some cases we can take your car, running or not. However, it
must have an engine and be tow-able. Contact a representative at
1-877-CARSCPR or 1-877-227-7277 to find out if your vehicle
qualifies for pick-up.
Do you only accept cars for donation?
Many types of motor vehicles are accepted including
boats, motorcycles, trucks, and cars. If you are uncertain as to
whether or not your vehicle is eligible, please contact the vehicle
donation program toll free at 1-877-CARSCPR or 1-877-227-7277.
How long will it take to pick up my
vehicle?
We make donating your car as simple and convenient as possible. In
many cases, vehicles can be picked up the same day. Call our
representatives at 1-877-CARSCPR or 1-877-227-7277.
Do I have to be with the vehicle at the time of
pick-up?
No. Special arrangements can be made by calling our
representative.
What paperwork do I need?
The only paperwork needed is a signed, clear title (pink
slip). Have your title with you when you call-in your
donation. [Please note: a clear title indicates the
title is in the name of the donor without a lien].
Do I need a smog certificate in order to donate my
car?
For states that require smog certificates or safety inspections,
you may donate your vehicle without these documents.
What if I receive legal notices?
In the rare event that you receive any notification of a lien
sale, DMV actions or other activity related to your donated
vehicle, please contact us at 1-877-CARSCPR or 1-877-227-7277
immediately for assistance.
Tax Questions
How does the new law effect my tax
deduction?
Donors are no longer responsible for determining the deductible
value of their donation. Instead, they will receive IRS Form
1098-C, Contributions of Motor Vehicles, Boats, and Airplanes if
the proceeds from the sale exceed $500, stating the amount of the
gross proceeds from the sale of the donated vehicle. The amount
listed on IRS Form 1098-C, Contributions of Motor Vehicles, Boats,
and Airplanes will be the gross proceeds of the deductible
donation.
Will I get a tax receipt for my donation?
Yes, our driver will issue a receipt at the time of pick-up. This
is not your final tax receipt unless the sale of your vehicle does
not exceed $500. This initial acknowledgement will indicate your
name as well as the year, make, model and condition of the car you
are donating. It will be your only receipt if your vehicle sells
for less than $500.
An IRS Form 1098-C, Contributions of Motor Vehicles, Boats, and
Airplanes will be mailed to you within 30 days of the sale stating
the amount of gross proceeds received from your car, provided your
vehicle sold for more than $500. This will be your tax receipt for
your charitable contribution.
How is the value determined on the vehicle
donated?
The value is determined by the gross proceeds raised from the sale
of the donated vehicle. You no longer have the burden of
determining the value yourself.
Does the new law affect Capital Public
Radio?
Capital Public Radio has additional paperwork in reporting the
gross proceeds raised from the sale of the vehicle to the donor and
IRS. The process of obtaining the cash donation from the vehicle
remains the same.
What can I claim as a deduction?
According to the tax law effective January 1, 2005, if the claimed
value of the donated vehicle exceeds $500, the taxpayer is limited
to the gross proceeds of the sale.
What if my car is valued over $5000?
Effective January 1, 2005, you are no longer required to have
vehicles appraised. The value you may claim will be the amount of
gross proceeds received from your vehicle.
To learn more about this how this program works, or
you are ready to donate a vehicle, you can call us at
1-877-CARSCPR or 1-877-227-7277, or fill out this form.
|