If I gift a car to a friend (not family & not a charity), do the same tax deduction rules apply to me as if I was donating it to a charity?

sceva · ‎May 31, 2019

jerry2000 · ‎May 31, 2019

A gift made to an individual or for the benefit of a specific individual is not deductible. Only donations made to organized charities recognized as such by the IRS are deductible.

View solution in original post

SweetieJean · ‎May 31, 2019

Think about it: If the IRS allowed this, we could deduct every birthday, holiday, and other type of present that we ever gave anyone else.

If I gift a car to a friend (not family & not a charity), do the same tax deduction rules apply to me as if I was donating it to a charity?

Deductions & credits

Deductions & credits

If I gift a car to a friend (not family &amp; not a charity), do the same tax deduction rules apply to me as if I was donating it to a charity?

Deductions & credits

Deductions & credits

If I gift a car to a friend (not family & not a charity), do the same tax deduction rules apply to me as if I was donating it to a charity?