How is the value of my car determined?
The IRS allows you to take a charitable tax deduction on your federal income tax form equal to the amount the vehicle sells for at auction unless it sells for less than $500. If your vehicle sells for less than $500 you may deduct no more than $500. If your vehicle sells for more than $500, you will need to include the IRS form 1098C. Vehicles for Charity will supply this documentation after your vehicle sells. We recommend you consult your tax advisor with questions about your deduction.
You can use the Kelley Blue Book or NADA guides to determine fair market value.
Please note that Vehicles for Charity is a nonprofit organization operated by ARC, the Association for Retarded Citizens. Cars are sold wholesale, and WBFO keeps roughly 60% of the net profit after sales expenses. ARC retains the balance.
For non-cash deductions over $500, you are required by the IRS to fill out form 8283, which can be found here.
For more information about how you can support WBFO, please call 829-6000.