Tax deductions for donations
I looked on the IRS web site and couldn't find the answer to my question.
Our income this year will be lucky to be $60,000. How much would we have to donate to take a deduction on April 15th?
Say I donated a vehicle before April 15th that has blue book of $1000 and the charity sold it for $500. I could take the $500 as a deduction.
Would that give me anything back on next years taxes and if so how much?