I think you are on the right track. The charity filed the Form 1098-C which indicates it's a vehicle.
Your guide as well as pictures of the trailer should be maintained, as well as a receipt from the qualifying organization. A qualified appraisal is not required if the donation is below $5,000 as you may already know based on your question. Because they are keeping and using the trailer, you can use the fair market value (FMV) based on the IRS information below.
Donors may claim a deduction of the vehicle's fair market value under the following circumstances:
The charity makes a significant intervening use of the vehicle, such as using it to deliver meals on wheels.
The charity makes a material improvement to the vehicle, i.e., major repairs that significantly increase its value and not mere painting or cleaning.
The charity donates or sells the vehicle to a needy individual at a significantly below-market price, if the transfer furthers the charitable purpose of helping a poor person in need of a means of transportation.
You can get to this area on TurboTax Premier by following these steps:
- Open (continue) your return in TurboTax.
- In the search box, search for donations > Press Enter, then select the "Jump to" link in the search results.
- Answer Yes to Did you make any donations to charity?
- Answer No to Do you have an account with ItsDeductible Online?
- On the next screen, answer Yes to enter your donations for 2020.
- Continue with the onscreen instructions.
- Click here for more IRS information on charitable donations.
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