With the new tax laws, can someone tell me if my son would benefit in terms of tax savings if he donated his car to charity? He's a college student, and earns approx. $15,000 via a part-time job. Fair market value of the vehicle is $1,500-$2,000. Not sure if the standard deduction would be the best option for him, or itemizing this vehicle deduction (with likely very few other deductions).
Thoughts?
Thanks!!!
