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RV Donation Information Gorham ME

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.

Michael John DellOlio (RFC®), JD, MBA
(207) 294-0401
16 Middle Street
Saco, ME
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Michael J. DellOlio & Associates, L.L.C.
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Education: B.S.,MBA,J.D.,NASD Series 6,7,24,63,65; Maine Insurance License
Years of Experience: 24
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IARFC
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Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Retirement Planning, Tax Planning, Tax Returns, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, BuySell, Compensation Plans

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Scott Associates
(207) 772-0441
12 Revere St
Portland, ME
 
H & R Block
(207) 773-0221
252 Saint John St
Portland, ME
 
Austin Associates PA CPA
(207) 892-6642
183 Us Route 1
Portland, ME
 
David Thomas & Assoc
(207) 871-0123
477 Congress St Ste 1005
Portland, ME
 
Liberty Tax Service
(207) 828-4829
694 Forest Ave
Portland, ME
 
Johnson Virginia M
(207) 772-2322
686 Brighton Ave
Portland, ME
 
Jackson Hewitt
(207) 899-1540
34 Atlantic Pl
Portland, ME
 
H & R Block
(207) 775-1972
400 Maine Mall Rd
Portland, ME
 
H&R Block
(207) 541-1981
629 FOREST AVE
PORTLAND, ME

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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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