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RV Donation Information Aberdeen SD

Every year, millions of Americans get a tax deduction by donating to charities. Here's a primer for those who want to donate an RV.

Mr. Todd M. Klein (RFC®), CFP
(605) 348-2433
1241 E St. Joseph St
Rapid City, SD
Company
Fintegra, LLC
Qualifications
Years of Experience: 19
Membership
IARFC
Services
Invoice, Estate Planning, Portfolio Management, Retirement Planning, Tax Planning, Tax Returns, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Education Plan

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Huron, SD

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H&R Block
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3400 EMPIRE MALL
SIOUX FALLS, SD

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H&R Block Inside Sears At Rushmore Mall
(605) 399-2114
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RAPID CITY, SD

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633 E Sioux Ave # 6
Pierre, SD

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Sioux Falls, SD

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Sioux Falls, SD

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532 E Anamosa St
Rapid City, SD

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H&R Block
(605) 332-8081
4601 E ARROWHEAD PKWY STE 101
SIOUX FALLS, SD

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H & R Block
(605) 229-4681
215 5th Ave SW
Aberdeen, SD
 
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RV Donation Information

Donate RV

Every year, millions of Americans get a tax deduction by donating to charities. Here's a primer for those who want to donate an RV.

The first question many people have is whether they can donate an RV and get a deduction. The tax code notes that "vehicles" can be donated, not just cars. This means an RV, motor home, camper and so on can be donated in exchange for a tax deduction.

When donating your RV, there are a couple of things to keep in mind. First, the donation is only tax deductible if the charity is a 501c3 entity. This number designation refers to the section of the tax code controlling non-profit charities. If the party you are donating to does not have such a classification, you will not be able to claim a deduction. Many taxpayers made this mistake when donating to the Tsunami relief effort. Ask the charity to show you the designation or look for it on the paperwork. Most charities will make their certification very prominent.

Once you donate the RV to charity, what can you deduct? Under new tax regulations, you can no longer deduct the fair market value. Instead, you must deduct the actual sales price the charity is able to obtain when it sells your former RV to a third party. The charity will have a procedure in place for sending you a written receipt of the actual sales price. If they do not, donate the RV to another charity that does.

There are a couple of exceptions to the actual sales price tax deduction rules. The IRS will allow yo...

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