Form 1098-C El Cajon California 2025

Form 1098-C El Cajon California: What You Should Know

We will mail out an IRS Form 1098-C within 30 days of the sale stating the gross amount received from your sale. If your vehicle sells for more than 500, you will owe a 0.9% fee of the value of any charitable contributions received from your donation over 500 (but not more than 5,000) and a 3.9% fee for the balance if your car value is more than 5000. Any money remaining on the vehicle at the time you file Form 1098-C will be used to purchase another vehicle of the same value. If your donated vehicle sells for under 500, we will mail you an additional receipt known as “IRS Form 1098-C, Contributions of Motor Vehicles, Boats, San Diego Car Donations: An Easy Way to Support KBS If your donated car is worth less than 500, we will first request that you fill out our online donation form, and then we will mail you our receipts. The fee for our receipts is 2.00. Your receipt will be mailed within 30 days of the sale. Form 1098-T is issued to an organization for more than 500 if the gross amount received from the charity (500 or more) is from a sale of a vehicle for 500 or less. Also, a copy of all required information is required, which generally includes the vehicle and a description or description of the purpose for which it was acquired. Donating Motor Vehicles — Exempt and Tax-Free Amounts Form 1098-C does not apply to motor vehicles that are not donated. That is, if a donation was made of a car, boat, etc., that was sold at auction and for less than 500, the donation would not be tax-free. Generally, we are unable to give you any specific advice regarding the value of your donated vehicle in this situation. If your vehicle qualifies as a vehicle for which we are unable to give you a specific price, we do offer an appraisal on these vehicles. We are able to offer an appraisal for the purchase price or if your vehicle was purchased before Dec. 31, 2014. For more information or to request an appraisal on a vehicle and for a custom value quote, contact us here or by calling.

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