A client just won a brand new car at the raffle drawing, valued at $23,000. He wants to donate the car to charity and take a deduction. The only way he can deduct $23,000 on his tax return would be for the organization to make a check on 5a of Form 1098-c. He plan to turn over the car to the organization right away. He and his wife are both over 70, standard deduction will be 26600 for 2018 tax return. so the benefit may not even matter.
Anyone has a better suggestion?