IRS Announces Release of New Form for Vehicle Donations

IRS Announces Release of New Form for Vehicle Donations

News story posted in Publications on 7 September 2005| 1 comments
audience: National Publication | last updated: 18 May 2011
Print
||
Rate:

Summary

The IRS has released new Form 1098-C, Contributions of Motor Vehicles, Boats, and Airplanes. The form is used by donee organizations to report the contribution of qualified vehicles to the IRS under new IRC section 170(f)(12). The form may also be used to provide the donor with a contemporaneous written acknowledgment of the contribution.
Full Text:

The form may also be used to provide the donor with a contemporaneous written acknowledgment for the contribution.

Go to: http://www.irs.gov/pub/irs-pdf/f1098c.pdf

PGDC Editorial Board member Christopher Hoyt made the following observations:

"Notice how the charity should report the donor's social security number to the IRS. In this age of identity theft, I expect that many people will be reluctant to give this information to the charity. I wonder how many charities have procedures in place to protect this information as well as a regulated financial institution."

Add comment

Login to post comments

Comments

Group details

  • You must login in order to post into this group.

Follow

RSS

This group offers an RSS feed.
 
7520 Rates:  Aug 1.2% Jul 1.2.% Jun 1.2.%

Already a member?

Learn, Share, Gain Insight, Connect, Advance

Join Today For Free!

Join the PGDC community and…

  • Learn through thousands of pages of content, newsletters and forums
  • Share by commenting on and rating content, answering questions in the forums, and writing
  • Gain insight into other disciplines in the field
  • Connect – Interact – Grow
  • Opt-in to Include your profile in our searchable national directory. By default, your identity is protected

…Market yourself to a growing industry