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doucanoe

Tax deduction worth making a donation?

doucanoe
13 years ago

I still have my Toyota Rav 4 that got smashed last October. It's taking up alot of room in the garage, and we need to get rid f it. Tim thinks we should donate it, says there are places that take fixable vehicles to use for teaching mechanic-type-stuff to underpriveleged individuals, who fix them and sell to raise money.

I am wondering if the tax deduction would be worth the trouble of seeking out a place that would want it and then figuring a way to get it to them.

Pre-accident, the blue book value ws about $5400.00. As it sits, it needs about $600 worth of work to make it driveable, plus possible light body work. It has high mileage on it, but would still go at least 50,000 miles or more, I believe.

As I see it, here are my options:

I could spend the $600 and then sell it for maybe $1000-1200.00.

I could sell it to someone as is for $500-600.00 and let them fix it.

I could donate it, and take a tax deduction.

Would love to hear opinions or other ideas. I need it out of my garage! LOL

Linda

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