Your Tax Donation
Your Tax Deduction
Volunteers of America is a tax-exempt charity under section 501(c)(3) of the Internal Revenue Code.
Here’s how your tax deduction works:
- Vehicle value up to $500: If the claimed value of your vehicle donation is $500 or less, or the vehicle is sold by Volunteers of America for less than $500, you may deduct the fair market value up to $500.
- Vehicle value more than $500: Deductions for vehicles with a claimed value of more than $500 may not exceed the selling price of the vehicle.
The Internal Revenue Service requires Volunteers of America to obtain your Social Security/tax identification number on vehicles that sell for more than $500. Upon the sale of your vehicle, you will receive a receipt documenting the sales price. If you itemize your taxes, you can claim this amount as a deduction.