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Cars and Transportation
Reply to "Help please selling high end car!!!"
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[quote=Anonymous][quote=Anonymous]Donate and take the write off. You both will feel better about yourselves.[/quote] That's a really bad idea. Both you and the prospective charity would be far better off with you selling the car (just pay the 10% commission) and then you could donate the proceeds. If you donate it, it will be sold for far less than it should, meaning the charity will get less than it would otherwise and your right off will be less. (They changed it a while back so that you only get the actual sale price, not a more amorphous idea of FMV because so many people abused it.) The only one who would win by doing that is the person (likely a dealer) who would get a good deal on the car.[/quote]
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