Form 1098-C Jurupa Valley California 2025

Form 1098-C Jurupa Valley California: What You Should Know

In order to file Form 1098-C, the vehicle must be a qualified motor vehicle, boat, or airplane that was brought to the United States and which was purchased with your taxpayer identification number, or TIN. See IRS Publication 463. You can be eligible to receive a deduction on the tax return for a donated vehicle even if any part of the vehicle is not valued at 500 at the time you complete the Form 1098-C for it. The vehicle can be either a donor vehicle, or you can bring it into the United States with your taxpayer identification number and the amount you donate is not 500 of a qualified motor vehicle. You may also need to file a TIN for any additional vehicles donated as part of your plan. Example: Joe and his sister-in-law are donors of a motorcycle. Joe has TIN 82224. His motorcycle is valued at 30,000. In order to file Form 1098-C for the motorcycle, you need to know Joe's TIN and his motorcycle's value. Joe will need to fill out Form 959, Voluntary Declarations of Gains and Losses. If Joe were to donate the motorcycle and leave it in the United States, he would be eligible for a deduction on his return for the value of Joe's TIN, which is 25,250. But Joe would also be required to complete a separate Form 959 for other equipment donated with his motorcycle, and will also have to file Form 944, Voluntary Assessment with U.S. Customs. If he were to leave his motorcycle in the United States, Joe would be ineligible for a deduction and no Form 959 would be required. Note: The total value of the donated items may not exceed the value of the vehicle. In general, contributions of a qualified motor vehicle that have a claimed value of more than 500 are considered gifts. What if your qualified motor vehicle is donated (other than your taxpayer identification number or TIN) other than to a qualified charity? Voluntary contributions of other vehicles are a tax-deductible service performed for charitable purposes. For more information, see “Qualified Motor Vehicle, Boat, or Aircraft” in Publication 463 (IRS Publication 463).

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