What are the benefits of donating my vechicle to UBCF?
United Breast Cancer Foundation is committed to making a positive difference in the lives of those affected by breast cancer. Thanks to our generous donors, UBCF educates the public and offers numerous programs services including: gifting helpful and useful products (clothing, shoes, personal care products, bedding, etc.), offering financial grants to support early detection screenings, medical treatments, surgical procedures, cost of living expenses, holistic care and alternative treatments, provide college scholarships and support the needs of kids.
- By donating a car to United Breast Cancer Foundation, you are choosing to support a worthy cause that you believe in! 1 in 8 women will be diagnosed in their lifetime, and while rare, men can develop breast cancer too. Your donation can help UBCF make a difference!
- Is your vehicle donation tax-deductible? Yes! Vehicle donations are tax-deductible. Individual tax situations vary. For specific tax- related questions, please consult your tax advisor or refer to IRS Publication 4303
- What’s the amount of your deduction? That depends on your vehicle’s value. We carefully evaluate each vehicle and assess the year, make, model, location, and resale potential. In most cases, vehicles are sold through an auction facility. If your vehicle sells for under $500, you may deduct the sale price of the vehicle or a minimum of $500. If your vehicle sells for over $500, you may deduct the sale price of the vehicle.
- What if your vehicle is valued over $5,000? Effective January 1, 2005, you are no longer required to have vehicles appraised. The value you may claim will be the amount of gross proceeds received from your vehicle. If your vehicle sells for more than $5,000, you will need to complete Section B of Form 8283 and obtain an acknowledgment signature on the form prior to claiming the deduction, and the completed form will need to be included with your income tax return.
- Here are some key factors to keep in mind: Your car donation must occur in the tax year for which you claim it. By donating your vehicle to UBCF, a legitimate 501(c)(3) nonprofit that is eligible to receive tax-deductible contributions, your donation qualifies for a deduction (consult your tax professional). You need a receipt to prove your donation. You’ll get that from us! If your vehicle sells for more than $500 and your tax identification number has been provided, an IRS Form 1098-C, ‘Contributions of Motor Vehicles, Boats, and Airplanes’, will be sent to you stating the amount of gross proceeds received from your donation.
Questions? Give us a call today! 1-866-362-2462