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Retirement tax questions
According to the IRS, "A donee organization must file a separate Form 1098-C with the IRS for each contribution of a qualified vehicle that has a claimed value of more than $500.
A qualified vehicle is:
- Any motor vehicle manufactured primarily for use on public streets, roads, and highways.
- A boat.
- An airplane"
In order to be issued the 1098 C, it must have a social security number of the doner. No exceptions!!
About Form 1098-C, Contributions of Motor Vehicles, Boats, and Airplanes
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March 29, 2024
1:08 PM