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Re: car scrap value Posted by Ari [Email]  (#2847) [Profile/Gallery]
(more from Ari) on Tue, 15 Apr 2008 10:55:49
In Reply to: car scrap value, steve, Mon, 14 Apr 2008 11:42:51 Members do not see ads below this line. - Help Keep This Site Online - Signup |
If you donate the car, the charity will provide you with a receipt for the value that you can use for tax purposes. It used to be that you could donate a car for book value, even if the charity was going to scrap it and get much less. The IRS wised up and changed the rule - you now get the value the charity will get. So if the charity scraps it, the charity gives you a receipt for the scrap value. If the charity sells the car, they give you a receipt for the sold value (minus improvements).
My guess is that most cars the charity picks up go straight to the crusher, so they're pretty good at telling which cars are going to be scrapped. So your best bet is to call up a worthy charity that takes cars, and let them give you a receipt for the scrap value. It's nice and clean from a tax standpoint - you've got a receipt if audited.
Now, if you need a scrap value for some reason other than taxes, I'd call up a local scrap dealer and ask them to quote you a price.
posted by 192.249....
, Tue, 15 Apr 2008 10:55:49 <-- Viewing This Message
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