Tax Filing Pointers
General Guidelines for Filing
In order to receive a tax deduction for a donated vehicle or other non-cash property, you will need to itemize your deductions, including any charitable contributions, on Schedule A of Form 1040 from the IRS. Be sure to include your Metal2Petal tax-deductible receipt with your tax return. You do not need to submit Form 1098-C, as the IRS considers your official Metal2Petal receipt as adequate documentation of your donation. Note: You must file IRS Form 8283 to report information about noncash charitable contributions when the amount of the deduction for all noncash gifts is more than $500.
The same guidelines as above may be followed if you are filing electronically. Once you have submitted your E-Filing, you must then mail IRS FORM 8453 along with the receipt we provide you. This form is a substitute for the 1098-c form. You do not need to mail a copy of the full tax return produced from your E-Filing.
FAQ About Filing Your Donation
Q: Do I need to submit a Form 1098-C?
A: No, it is not necessary to fill out form 1098-c. Instead, you may attach the tax deductible donation receipt provided to you by Metal2Petal to your tax return documents.
Q: What is the date that will be printed on my receipt?
A: We will date the receipt as the day you submitted your donation to Metal2Petal.
Q: Will I receive a tax deduction even if the car is not running?
A: Yes. Even if the car is not running, the IRS considers every vehicle to have some value. If the vehicle sells for less than $500, it is up to the donor to determine its fair market value (up to $500).