To receive a tax deduction for a donated non-cash donation, you must itemize your deductions, including any charitable contributions, on Schedule A of Form 1040 from the IRS. Include your CPR123 tax-deductible receipt with your tax return. You do not need to submit Form 1098-C as your official CPR123 receipt is considered sufficient documentation by the IRS. For non-cash donation worth more than $5,000, you will also need an IRS Form 8283, section B.
Tax Filing Tips
Filing Guidelines non-cash donation
Donors who are filing their taxes electronically follow the same guidelines detailed above. After E-FILING you will need to mail out IRS FORM 8453 along with your tax deductible non-cash donation receipt to the IRS (this is a substitute for the 1098-c). You do not need to mail in a copy of the tax return that was filed electronically.
Tax preparation software tips (Turbo Tax etc..)
Follow instructions for entering charitable donations. Enter the Charity name (which is CPR123), Charity address (which is 1805 Swarthmore Ave., Lakewood, NJ 08701) and TAX ID number (which is 22-3746050). The date of donation and gross proceeds from sale are the date and amount listed on your receipt. YOU DO NOT NEED TO FILL OUT FORM 1098-c. the receipt we provided you is a LEGAL SUBSTITUTE for form 1098-c and should be used whenever prompted for information from form 1098-c.
- (Answer Yes) Donor certifies that non-cash donation was sold in arm’s length transaction to unrelated party
- (Leave Blank) Donor certifies that non-cash donation will not be transferred for money, other property, or services before completion of material improvements or significant intervening use
- (Leave Blank) Donor certifies that non-cash donation is to be transferred to a needy individual for significantly below fair market value in furtherance of donor’s charitable purpose
- (Leave Blank) Donor certifies the following detailed description of material improvements or significant intervening use and duration of use
Frequently asked questions about filing your car donation
A: You do not need to fill out a 1098-c form. Simply attach the CPR123 tax deductible receipt that you received for your non-cash donation to your tax return documents.
Q: My non-cash donation is damaged can I still get a tax deduction?
A: Yes. Every vehicle has some value and IRS regulations allow the donor to determine the fair market value up to $500.
Q: What date will be on my receipt?
A: The date for your tax deductible receipt will be the day you submitted your non-cash donation to CPR123.
Q: My accountant had questions on which forms he will need to attach to my return
A: Read our easy guide to car donations for accountants