Get your taxes done using TurboTax
You can enter your donation value in TurboTax as follows:
In your search bar at the upper-right side of your screen enter "1098-c"
Choose "I'll Value Them"
Enter you relevant information:
Follow your screens through and enter your Form 1098-C. See the exception explained below.
You can enter the lower value of your car, but you must meet one of the exceptions:
Please read the exception below. This exception must be met in order for TurboTax to accept the "lower value" than what is on Form 1098-C.
Exceptions to the sale proceeds limitation
A vehicle donation deduction over $500 is based on its fair market value and isn't restricted by the sales amount if the charity does any of the following:
- Keeps the vehicle for its own use
- Makes "material" improvements to it before selling it
- Decides to give the vehicle to a needy individual at no charge or at a price that's less than it is actually worth
If box 5a or 5b is checked off on Form 1098-C, your donation is typically eligible for an exception, and you can typically deduct the car's value.
Also refer to the instructions for Form 1098-C for a further explanation. Click here for 1098-C Instructions.
Click here for information on Form 1098-C.
Please feel free to come back to TurboTax Community with additional information or questions or click here for help in contacting Turbo Tax Support.
