To claim a tax deduction greater than $500, we must list your social security number on the form (1098-C) we provide to you and to the IRS All of your personal information will be kept confidential. You can still donate your vehicle if you don’t want to provide your SSN, but your deduction will be … Continue reading Why do you ask for my Social Security Number?
We will send you the official acknowledgement form within 30 days of when we sell your vehicle. This will usually be 6-12 weeks after we have received your donated vehicle
The most common way is to look at websites like Kelly Blue Book, or Edmunds. On these sites the FMV is considered to be the private party transaction value, not the suggester dealer retail. Ultimately, it’s up to you and your tax advisor to determine the amount you can deduct for your donation, but ChangingGears … Continue reading How do I determine the FMV of my vehicles?
The maximum amount you will be able to deduct is the fair market value (FMV) of your vehicle on the day you donate it. The actual amount of your deduction will be limited to the FMV on the day you donate your vehicle or the final sale price, which ever is less. The final sale … Continue reading How much will I be able to deduct for my donation?
Yes, ChangingGears is recognized by the IRS as a tax exempt 501(c)(3) organization. Click here for an IRS publication that may answer more questions.