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For additional information please contact Nancy at 404-451-8559 nancy@autodonationsofgeorgia.com |
AUTO DONATIONS OF GEORGIA HANDLED BY SUPERIOR AUTO SALES - CHARITY DIVISION LOCALLY OWNED AND OPERATED |
1. Donating a car in Georgia Vehicles donated on this site will benefit charitable organizations registered as a 501(C) and are tax deductible. A title is required in order to sell the vehicle, so if you do not have one in your possession you will need to get a replacement through the Georgia motor vehicle department. The following types of vehicles do NOT require a title in Georgia. Snowmobiles, off road vehicles, mopeds, boats and boat trailers. A registration may be required . To transfer the title the donor must sign on the back where it says to release the title. All liens must be satisfied on the front of the title. Owner must remove license plates prior to pick up. 2. How it works Upon receipt of the title for a vehicle, you will be notified by the tow company within 24 hours and you can make personal arrangements for the pick up. We have several options to sell your car. a. wholesale auctions b. salvage auctions c. on-line sales d. wholesale sales from our lot e. retail sales After the sale of the vehicle, you will receive a receipt for the sale price and all pertinent information needed to attach to your tax return. If the price is over $500 you will receive a 1098-c receipt. We will take appropriate fees and a check will be sent to the charity of your choice. All charities have a contract with us as to the % they will receive. 3. Tax law Tax Years 2005 and Later Issued January 18, 2005 Charitable Contributions of Cars, Boats, and Aircraft If you donate a car to a qualified organization after December 31, 2004, your deduction is limited to the gross proceeds from its sale by the organization. This rule applies if the claimed value of the donated vehicle is more than $500. However, if the organization makes significant intervening use of or materially improves the car, you generally can deduct its fair market value. Boats, aircraft, and other vehicles. These rules also apply to donations of boats, aircraft, and any vehicle manufactured mainly for use on public streets, roads, and highways. Acknowledgement required. If the claimed value of the car is more than $500, you must have a written acknowledgement of your donation from the organization and must attach it to your return. If you do not have an acknowledgement, you cannot deduct your contribution. The acknowledgement must include the following information. 1. Your name and taxpayer identification number. 2. The vehicle identification number or similar number. 3. A statement certifying the car was sold in an arm's length transaction between unrelated parties. 4. The gross proceeds from the sale. 5. A statement that your deduction may not be more than the gross proceeds from the sale. 6. The date of the contribution. However, if there was significant intervening use of or material improvement to the car by the organization, the acknowledgement does not have to include the information in items 3, 4, and 5 above. Instead, it must contain a certification of the intended use of or material improvement to the car and the intended duration of that use and a certification that the vehicle will not be transferred in exchange for money, other property, or services before completion of that use or improvement. This acknowledgement must be provided within 30 days of the sale of the car or, if there is significant intervening use or material improvement of the car by the organization, within 30 days of the contribution. The organization also must provide this information to the IRS. Donations of inventory. These rules do not apply to donations of inventory. For example, these rules do not apply if you are a car dealer who donates a car you had been holding for sale to customers. |