DONATE YOUR BOAT, CAR, RV, JETSKI,
USED COMPUTER OR OTHER PROPERTY TO NROTC
AND HELP A VET!!!
BECAUSE IN MOST CASES WE DO NOT SELL YOUR DONATION AT AUCTION LIKE SO MANY OTHERS DO...
INSTEAD... WE USE IT DIRECTLY AS PART OF OUR CHARITABLE ACTIVITY...
READ BELOW TO FIND OUT HOW WE DO THIS!
(We are not accountants. Check with your accountant to verify anything you read here)
TO PRINT THIS PAGE... CLICK HERE
The donation process is quick and easy plus towing is free. We can even provide vehicle or vessel pickup within 24-hours if necessary
The entire donation process breaks down to three easy steps.
There are two ways to contact us.
1. Contact Us
2. Schedule the Pickup
Once we have your donation information, one of our towing companies or vessel handlers will contact you to schedule a convenient date to pick up your vehicle or vessel for free. When the towing company or vessel handler arrives to pick up your donated vehicle or vessel, they will also pick up the title and keys.
A NOTE About Vessels:
If you have a larger boat without a trailer that is in the water or up on land at a marina we typically
send one of our suryeyors out to appraise you vessel first. We are particularly interested in larger vessels. We will consider
any larger vessel on the United States East Coast or Gulf of Mexico. We love older wooden yachts in reasonably good shape. We
do not accept junk.
If you are not going to be home when the vehicle or vessel is picked up, you will need to advise the towing company or vessel handler specifically where in the vehicle or vessel you will be leaving the title and keys. The towing company or vessel handler will leave you a receipt showing that your vehicle or vessel was picked up on behalf of NROTC.
3. Receive Your IRS Tax Deduction Receipt
Once NROTC is in possession of your donated vehicle or vessel and title, we will mail your IRS tax-deductible donation receipt. This usually takes between 10-15 business days.
Other Property such as RV's or Motorhomes, Motorcoaches, Jetskis, Motorcycles, Computers and while rare... EVEN HOMES AND REAL ESTATE PROPERTY!... may be donated or bequested. Cases are known and donated homes can be used directly to support veterans in ways such as temporary housing, recreational retreats, educational and job training centers.
Donations of all kinds, even collectables, memorabilia and trift store items are welcomed! Just call if you have any questions.
There are many reasons to donate your old car, truck, boat or rv to help support our Wounded Warriors and Veterans. Below, we have
outlined at a glance Donation Information and the Benefits of Donating Your Vehicle, Vessel or other personal property to NROTC.
- NROTC accepts almost any car, truck or boat, running or non-running.
- All items donated to NROTC are 100% tax-deductible.
- NROTC provides free towing.
- 24 hour towing service is available.
- NROTC issues donors an IRS tax-deductible donation receipt.
- Donors must have a title with no outstanding liens for their donated vehicle.
- NROTC has convenient drop off locations if you wish to drive in your vehicle.
- Our office hours are Monday through Friday 8:30AM to 4:30PM (EST) and Saturday 8:45AM to Noon (EST).
- Boats, RV's, motorcycles, computers and other personal property are also accepted in most cases.
Just call if you have any questions at 410-687-3568
Q: Do I need a title to donate my vehicle or vessel? Q: How does my donated vehicle get picked up? Q: How does the tax deduction work?
A: Yes. You must have a clear title (no liens) to donate your car. If there is a lien holder and/or a secured party listed on
the title, we must have a copy of the lien release along with the title even if the lien has been paid off.
A: After you have made arrangements to donate your vehicle or vessel, one of our professional towing companies or vessel
handlers will call you to arrange a convenient date to pick up your vehicle or vessel.
A: The IRS allows a donor to claim the fair market value up $500 for a donated vehicle. However, if the charity sells the
donated vehicle for over $500, the IRS allows the donor to claim the selling price as a tax deduction. NROTC or its agents evaluate
each donated vehicle to obtain the highest possible selling price for the vehicle in an effort to generate funds for our veterans and
to maximize the donor's tax deduction.
SPECIAL INCREASED IRS TAX-DEDUCTION RULES MAY APPLY!!!
Why donate to NROTC
Certain
Select Vehicles, Vessels, Computers or other personal property MAY BE USED BY NROTC TO DIRECTLY CONTRIBUTE TO OUR CHARITABLE MISSION AND/OR NROTC PROGRAMS OR PROJECTS!!!...NROTC has just established a new VEHICLE & VESSEL REHAB PROGRAM, (Details Here). This program involves having veterans employed by NROTC to return to usable condition, certain donated vehicles, vessels, computers and other personal property to to make available at little or no cost to qualified needy Veterans.
In this case, the IRS has special rules that apply!... WHERE NORMALLY, IF DONATING A VEHICLE OR VESSEL TO ANOTHER CHARITY, YOU WOULD ONLY BE ABLE TO CLAIM THE SELLING PRICE OF YOUR DONATION AT AUCTION AND WAIT UNTIL AFTER THE SALE TO BE ISSUED YOUR TAX RECEIPT... IF NROTC CHOOSES TO USE YOUR DONATED ITEM SPECIFICALLY FOR OUR USE... YOU WILL BE ABLE TO CLAIM FAIR MARKET VALUE OR APPRAISED/SURVEYED VALUE FOR YOUR DONATED ITEM... AND BE ISSUED YOUR TAX RECEIPT IMMEDIATELY! - THIS COULD RESULT IN A HIGHER TAX BENEFIT TO YOU AS A DONOR!!!
"STRICTLY FOR OUR PURPOSES"
SO CHECK WITH US FIRST... TO SEE IF THIS IS OUR INTENT!!!
The new IRS rules have become a little complicated. For a complete understanding you may refer to,
IRS Publication 526, Charitable Contributions, Department of the Treasury, Internal Revenue Service, 2009.
Following are helpful excerpts from IRS Publication 526
Limit on itemized deductions.
For 2009, if your adjusted gross income is more than $166,800 ($83,400 if you are married filing separately), you may have to reduce the amount of certain itemized deductions, including charitable contributions. For more information and a work- sheet, see the instructions for Schedule A (Form 1040).
A charitable contribution is a donation or gift to, or for the use of, a qualified organization. It is voluntary and is made without getting, or expecting to get, anything of equal value.
Qualified organizations.
Qualified organizations include nonprofit groups that are religious,
charitable, educational, scientific, or literary in
purpose, or that work to prevent cruelty to children or animals.
NROTC is a qualified IRS 501(c)(3) public charity.
See NROTC's IRS Determination Letter
See also the IRS Advance Ruling Extention Letter
Qualify To Receive Deductible Contributions.
Form 1040 required.
To deduct a charitable
contribution, you must file Form 1040 and itemize deductions on Schedule A. The amount of
your deduction may be limited if certain rules
and limits explained in this publication apply to
you.
Appraisal Fees
Fees that you pay to find the fair market value of
donated property are not deductible as contributions. You can claim them, subject to the
2%-of-adjusted-gross-income limit, as a miscellaneous itemized deduction on Schedule A
(Form 1040). See Deductions Subject to the 2% Limit in Publication 529 for more information.
Cars, Boats, and Airplanes
The following rules apply to any donation of a
qualified vehicle.
A qualified vehicle is:
- A car or any motor vehicle manufactured mainly for use on public streets, roads, and highways,
- A boat, or
- An airplane.
Deduction more than $500.
Form 1098-C.
If you e-file your return, you must attach Copy B of Form 1098-C to Form 8453 and mail the forms to the IRS.
Download Form 8453 and Instructions from IRS at:
http://www.irs.gov/pub/irs-pdf/f8453.pdf
If you do not attach Form 1098-C (or other statement), you cannot deduct your contribution. You must get Form 1098-C (or other
statement) within 30 days of the sale of the vehicle. But if exception 1 or 2 (described next) applies, you must get Form 1098-C
(or other statement) within 30 days of your donation.
Exceptions:
Areas that we think may be of SPECIAL interest to you are underlined.
There are two exceptions to the rules just described for deductions of more than $500.
Exception 1 - Vehilcle Used or Improved by organization
Exception 2 - vehicle given or sold to needy individual
This exception does not apply if the organization sells the vehicle at auction. In that case, you cannot deduct the vehicle's fair
market value.
Example.
Anita donates a used car to a qualified organization. She bought it 3 years ago for $9,000. A used car guide shows the fair
market value for this type of car is $6,000. However, Anita gets a Form 1098-C from the organization showing the car was sold for
$2,900. Neither exception 1 nor exception 2 applies. If Anita itemizes her deductions, she can deduct $2,900 for her donation. She
must attach Form 1098-C and Form 8283 to her return.
Note:
The (official & scannable) IRS Tax Form 1098 cannot be downloaded from IRS.GOV
It MUST be ordered by mail! (Maybe you can pick one up from your Accountant)
It can be ordered from IRS by calling 1-800-TAX-FORM (1-800-829-3676)
OR
Order from IRS Online at: http://www.irs.gov/pub/irs-pdf/p526.pdf
When ordering, request "Instructions for Form 1098", Form Inst. 1098 also.
OR
Phone NROTC at 410-687-3568 and we will mail this form and instruction sheet to you.
If you are claiming more than $500.00 in non-cash charitable contributions in any one taxable year, you will also need to file:
IRS Tax Form 8283 which CAN be downloaded from IRS.GOV
Download Form 8283 and Instructions from IRS Online:
HERE
Deduction $500 or less.
If the qualified organization sells the vehicle for $500 or less and exceptions 1 and 2 do not apply, you can deduct the smaller of:
If the vehicle's fair market value is at least $250 but not more than $500, you must have a written statement from the qualified
organization acknowledging your donation. The statement must contain the information and meet the tests for an acknowledgment
described under "Deductions of At Least $250 But Not More Than $500" under "Records To Keep".
Fair market value.
Donations of inventory.
Determining Fair Market Value
Cars, boats, and airplanes.
Boats.
Cars.
These publications are sometimes available from public libraries, or from the loan officer at a bank, credit union, or finance
company. You can also find used car pricing information on the Internet.
To find the fair market value of a donated car, use the price listed in a used car guide for a private party sale, not the dealer
retail value. However, the fair market value may be less than that amount if the car has engine trouble, body damage, high mileage,
or any type of excessive wear. The fair market value of a donated car is the same as the price listed in a used car guide
for a private party sale only if the guide lists a sales price for a car that is the same make, model, and year, sold in the same
area, in the same condition, with the same or similar options or accessories, and with the same or similar warranties as the donated
car.
Example.
Giving Property That Has Decreased in Value
Your basis in property is generally what you paid for it. If you need more information about basis, get "Publication 551, Basis of
Assets."
Giving Property That Has Increased in Value
Your basis in property is generally what you paid for it. If you need more information about basis, get "Publication 551."
Limits on Deductions
If your total contributions for the year are 20% or less of your adjusted gross income, you do not need to read the rest of this
section. The limits discussed in the rest of this section do not apply to you.
The amount of your deduction for charitable contributions is limited to 50% of your adjusted gross income, and may be limited to 30%
or 20% of your adjusted gross income, depending on the type of property you give and the type of organization you give it to. A
different limit applies to certain qualified conservation contributions.
Your adjusted gross income is the amount on Form 1040, line 38. If your contributions are more than any of the limits that apply,
see "Carryovers" under "How To Figure Your Deduction When Limits Apply".
If you donate a qualified vehicle to a qualified organization and you claim a deduction of more than $500, you can deduct the smaller
of:
You must attach to your return Copy B of the Form 1098-C, Contributions of Motor Vehicles, Boats, and Airplanes, (or other statement
containing the same information as Form 1098-C) you received from the organization. The Form 1098-C (or other statement) will show
the gross proceeds from the sale of the vehicle.
If the qualified organization makes a significant intervening use of or material improvement to the vehicle before transferring it,
and you claim a deduction of more than $500, you generally can deduct the vehicle
If the qualified organization will give the vehicle, or sell it for a price well below fair market value, to a needy individual to
further the organization's charitable purpose, and you claim a deduction of more than $500, you generally can deduct the vehicle's
fair market value at the time of the contribution. But if the vehicle's fair market value was more than your cost or other basis,
you may have to reduce the fair market value to get the deductible amount. The Form 1098-C (or other statement) will show whether
this exception applies.
To determine a vehicle's fair market value, use the rules described under "Determining Fair Market Value".
The vehicle donation rules just described do not apply to donations of inventory. For example, these rules do not apply if you are a
car dealer who donates a car you had been holding for sale to customers. See "Inventory".
This section discusses general guidelines for determining the fair market value of various types of donated property. Publication
561 contains a more complete discussion. Fair market value is the price at which property would change hands between a willing
buyer and a willing seller, neither having to buy or sell, and both having reasonable knowledge of all the relevant facts.
If you contribute a car, boat, or airplane to a charitable organization, you must determine its fair market value.
Except for inexpensive small boats, the valuation of boats should be based on an appraisal by a marine surveyor because the
physical condition is critical to the value.
Certain commercial firms and trade organizations publish used car pricing guides, commonly called "blue books," containing complete
dealer sale prices or dealer average prices for recent model years. The guides may be published monthly or seasonally, and for
different regions of the country. These guides also provide estimates for adjusting for unusual equipment, unusual mileage, and
physical condition. The prices are not "official" and these publications are not considered an appraisal of any specific donated
property. But they do provide clues for making an appraisal and suggest relative prices for comparison with current sales and
offerings in your area.
You donate a used car in poor condition to a local high school for use by students studying car repair. A used car guide
shows the dealer retail value for this type of car in poor condition is $1,600. However, the guide shows the price for a private
party sale of the car is only $750. The fair market value of the car is considered to be $750.
If you contribute property with a fair market value that is less than your basis in it, your deduction is limited to its fair market
value. You cannot claim a deduction for the difference between the property's basis and it's fair market value.
If you contribute property with a fair market value that is more than your basis in it, you may have to reduce the fair market value
by the amount of appreciation (increase in value) when you figure your deduction.
For 2009, the total of your charitable contributions deduction and certain other itemized deductions may be limited if your adjusted
gross income is more than $166,800 ($83,400 if you are married filing separately). This is in addition to the other limits described
here. See the instructions for Schedule A (Form 1040) for more information about this limit.