1098-C Charitable Contributions of Motor Vehicles, Boats and Airplanes.
You hear the ads on the radio and you see the ads on TV; donate your older car, truck or boat and it will be a tax deductible return! But how do these organizations report what the tax deductible amount is for your donation to you and the IRS? Well, they use a 1098-C of course!
Form 1098-C is for Contributions of Motor Vehicles, Boats, and Airplanes and is needed for each contribution with a claimed value of more than $500.00. so get your old cars read for donation and be prepared to receive a 1098-C in the New Year.