ever donate a vech to salvation army

EXJAY · April 5, 2003

my parents are having a terrible time of selling my dads '93 s-10 blazer 4x4. they just got a new tahoe and cant seem to sell the the #### blazer. its fully loaded and runs "ok" for having 253K hwy miles but the drive train is pretty worn down. they already have 3 other insured vechs. and really dont need the blazer. anyways, my dads thinking of donating it for a tax write-off next year just to get rid of it. anyone know what to expect we may get back? any ideas or suggestions short of parting it out? heres a pic but if ya get a "x", just copy the properties and paste in the address bar. thanks

BlackSilver · April 5, 2003

How much you "get back" ultimately depends on your tax bracket.

Presuming you itemize deductions, you can claim an income deduction (for the fair market value (blue book, usually) of the vehicle.

I have no idea of the value of the Blazer, but let's just pretend it's worth $1,000, and that your Dad is in the 20% tax bracket. Presuming he meets all the provisions and can take the full deduction, he will save $200 on his taxes (20% of $1000).

The above is WAY oversimplified, and the real answer depends on how much he makes, how much other charitable contributions he makes, whether he itemizes deductions, etc., etc.

BIFFY · April 5, 2003

Blacksilver has it right.

It may not apply to this truck, but if the expected value is $5,000 or more - you need to get an appraisal. Not just the Blue Book, not a number from the local truck salesman, an appraisal from a certified appraiser. There are guys doing this that will sign off.

Barry