Solved: Donated car; 1098-C shows proceeds from sale. Using this figure as the charitable deduction. When Turbotax asks me how I determine fair value, what choice is right?
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Donated car; 1098-C shows proceeds from sale. Using this figure as the charitable deduction. When Turbotax asks me how I determine fair value, what choice is right?

 
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Donated car; 1098-C shows proceeds from sale. Using this figure as the charitable deduction. When Turbotax asks me how I determine fair value, what choice is right?

You may use "Comparative Sales". The most accurate method is to look for private party ads for similar vehicles for sale in your area. If you can't find sales ads for similar vehicles, the easiest way to find that is through Kelley Blue Book. https://www.kbb.com/whats-my-car-worth/

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New Member

Donated car; 1098-C shows proceeds from sale. Using this figure as the charitable deduction. When Turbotax asks me how I determine fair value, what choice is right?

You may use "Comparative Sales". The most accurate method is to look for private party ads for similar vehicles for sale in your area. If you can't find sales ads for similar vehicles, the easiest way to find that is through Kelley Blue Book. https://www.kbb.com/whats-my-car-worth/

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