Car donation

[TAX]

Client has donated car to charity.

His cost = $9,800
Trade in Value = 1,245
FMV = 3995

Client can not find the letter.

(1) What should I deduct on sch A

(2) Any special form to fillout?

Thanks!

[fliszt]

I believe you

may deduct $500 without the appraisal form. But, I would certainly ask the TP to call the place where he donated the car and ask for a duplicate. Sounds as if it would be worth his effort.

[Lion]

1098-c

You need to attach his 1098-C to his return, or the substitute letter he received from the charity, if he's deducting over $500. If the charity sold it, he can deduct the sale price. If the charity is using it in their work or sells it below FMV to a needy person within their area of operation, then your client can deduct the used resale value. Tell him to find that letter!