How to donate car in Virginia

Looking to donate any unused vehicles? How to donate car in Virginia is easy in Wheels For Wishes, it usually takes a few minutes!

Introduction

Did you know that you can donate an unwanted vehicle and get it picked up or tow free of charge in the greater Virginia area? Wheels For Wishes can take care of it even if the vehicle has stopped running.

Donating your used car to charity in Virginia is a convenient way to dispose of an old vehicle while reaping tax benefits. Plus, donating your vehicle lets you skip the hassle of trying to sell the car yourself while still allowing you the financial benefits of tax deductions. In fact, the most challenging part of car donations is finding the right charity to donate to.

Tax Benefits of Donating a car to Charity in Virginia

• If the stock has increased in value since its purchase, the owner can defer paying capital gains tax by donating the security to a qualified charitable organization in Virginia. When appreciated security is donated to a charitable organization after being held for at least one year, its fair market value can be claimed as an income tax deduction.
• The fair market value of publicly traded shares is the average of the high and low price on the date of transfer, and for privately held stock that is not publicly traded, donations of estimated value below $10,000 do not need a valuation. At the same time, the donor is required to complete IRS Form 8283 as with donations of publicly traded stocks.
  

How to Donate car to Wheels for wishes in Virginia

Wheels For Wishes is designed to help you live a better life, and it also helps Make-A-Wish turn dreams into reality for local kids on a big, life-changing scale. All you need to give up is a car you don’t even want. For Virginia donors who want to donate a car to the Make-A-Wish children, here's where to do so:

• One of the representatives can be reached at 1-888-737-5808, or complete the online donation form
• They will contact you within 24 hours or less of the next business day to arrange a free towing service.
• So simple! Just send them your tax-deductible receipt!

Conclusion

Sometimes, you may not receive a tax advantage from donating your unwanted vehicle, but the charity that accepts it is bound to appreciate it. After all, a clunker that doesn't run can be sold for scrap. If you want to claim a tax deduction, just do your research on the charity to which you want to donate your car and prepare the appropriate paperwork. Donating your car will be a win-win for both you and the charity.