If you donated a vehicle, boat, or airplane to a charitable organization, you should receive Form 1098-C from the charity within 30 days of the date they sold it (or 30 days from when you gave it to them, if the charity is keeping it for themselves).
The allowable deduction is the gross proceeds amount (box 4c) if the charity sold the donation; otherwise it would be its fair market value.
Here's how to enter a 1098-C in TurboTax:
- Sign in and open your return
- In the upper right menu, search for 1098-C and select the Jump to link at the top of the search results
- Answer Yes when asked if you made any donations to charity in 2022
- Answer Yes when asked Do you want to enter your donations for 2022?
- Type in the recipient in the Who did you donate to? box and select which category your donation falls under (Car, boat, or airplane may be reported on 1098-C)
- You'll be asked to enter details of the donation, like date purchased, price, and so forth
- When you get to the 1098-C question, answer Yes and then follow the instructions to enter info from your 1098-C
When you file your return, we'll provide further instructions for what paperwork (if any) you need to mail to the IRS to support the deduction.