|
The Motley Fool Discussion Boards
|
Previous Page | |
|
Financial Planning / Tax Strategies |
||
|
URL:
https://boards.fool.com/but-doesnt-that-fall-into-the-same-concept-as-22330869.aspx
|
||
| Subject: Re: Selling a car - Tax implications? | Date: 4/8/2005 5:14 PM | |
| Author: vkg | Number: 78439 of 131760 | |
|
But doesn't that fall into the same concept as ItsDeductible.com? Not as of Jan 1, 2005. The tax laws changed specifically regarding donation of cars. If the charity immediately sells the car, only the amount that the charity actually received is deducted. It is expected to be a significant damper on donations. The other problem is that charities were not making it clear that if you do not itemize, the "deduction" is worthless. Debra |
||
| Copyright 1996-2021 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us | ||