Stampede Posted September 8, 2015 Report Share Posted September 8, 2015 Here is the story I bought a 2002 Toyota Solara that needs an engine. I don't have the time to do, so I thought about donating to Good Will for a tax write off, is it worth doing? Thanks. Quote Link to comment Share on other sites More sharing options...
Mitch Posted September 8, 2015 Report Share Posted September 8, 2015 No personal experience, but here's the info from their site about how to go about doing it. http://www.goodwillcolumbus.org/donate/vehicles/ Quote Link to comment Share on other sites More sharing options...
AudiOn19s Posted September 8, 2015 Report Share Posted September 8, 2015 They changed the laws a couple years ago and in my opinion it's not worth it unless you just need to get rid of the car. Max write off is $500 these days...or you can gamble and hope it goes for more than $500 at auction and then you can write off whatever it seeks for at auction. But if that's less than the $500 you could have claimed by default then that's what you are stuck with. Also consider this is $500 x your tax bracket when it comes to the amount that you will actually get back in taxes. So really expect maybe $150-200 max for the effort. Quote Link to comment Share on other sites More sharing options...
iwashmycar Posted September 8, 2015 Report Share Posted September 8, 2015 Might be more worth it to sell to a junk yard...I think you can at least get 3-400 in cash there. Quote Link to comment Share on other sites More sharing options...
BigOxley Posted September 8, 2015 Report Share Posted September 8, 2015 Just fyi, Goodwill is a business not a charity. Quote Link to comment Share on other sites More sharing options...
Richard Cranium Posted September 8, 2015 Report Share Posted September 8, 2015 If you're going the donation route, you might also consider a career tech school. Auto tech and auto body kids can practice on it. Once our shop kids have done as much practice as they can the cars normally go to our firefighting program for practice. You can guess what happens there. Quote Link to comment Share on other sites More sharing options...
Nickey4271647545519 Posted September 8, 2015 Report Share Posted September 8, 2015 Awful idea. Let's say the car is for example worth $1000, you get to write off the tax on $1000 worth of income. Just sell it to a yard and get some actual money for it. Quote Link to comment Share on other sites More sharing options...
Cordell Posted September 8, 2015 Report Share Posted September 8, 2015 Might be more worth it to sell to a junk yard...I think you can at least get 3-400 in cash there. This, if you can still get it to start it's worth more per ton. You said it needs an engine so maybe not. My Dad has been getting rid of stuff for people lately (he drives a rollback) so if you want his number maybe you guys can work out a cash deal to get rid of it if you go that route. Quote Link to comment Share on other sites More sharing options...
Stampede Posted September 8, 2015 Author Report Share Posted September 8, 2015 Looks like I'm going to stick with my plan, and replace the engine, then sell it. I need a better place to do this crap. Thanks. Quote Link to comment Share on other sites More sharing options...
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