Provided you posses a vehicle in Illinois that you are not using or ethical no longer thirst for to enjoy, you can donate it to an globe charity. When you donate a vehivle to an Illinois charity that is listed with the IRS as a charitable aggregation, you can speak the donation on your taxes. Truly, you are allowed to dossier the vehicle's fair market value. This is the price that you would be able to sell the car to a buyer for in the current market, which is likely less than the price you paid for the vehicle.
If the two numbers vary, you can add them together and then divide by two for the average.3. Apply for a duplicate vehicle title at your local Illinois Secretary of State Facility if you cannot find the original.
2. Obtain the vehicle's fair market value by using the Kelley Blue Book or NADA Guides websites. Enter your Illinois zip code on the Kelley Blue Book site for the local value. Use the "private party value" on the Kelley Blue Book site and the "average trade-in" on the NADA Guides site for the most accurate gauge of fair market value.
Instructions
1. Identify charities that are eligible for tax-deductible vehicle donations by using the online version of Publication 78 on the IRS website. Enter a charity's name, "Illinois" or a city's name to find eligible organizations.You have to fill out an "Application for Vehicle Transaction" and pay the filing fee, which was $95 as of mid-2010.
4. Arrange for the vehicle's pickup or transport it to the donation center. Contact the charity to ask how it accepts car donations. Some Illinois charities will tow the vehicle away, while others only accept drop-offs. You must sign over the title to the charity.
