If your vehicle sells for less than $500, you can claim the selling price or the vehicle’s fair market value up to $500.
If your vehicle sells for more than $500, you can claim the exact amount for which it sold.
To claim your tax deduction, you must itemize your deductions on your tax return and submit documentation in the form of a written acknowledgment letter (we provide this to you at the time of pickup and again once your vehicle is sold) and/or certain tax forms (we can provide these to you upon request, such as Tax Form 1098-C).
We recommend that you consult your tax advisor as well as the IRS for more specific information about charitable contributions.
See latest IRS information here.