Cars-4-Recovery

According to IRS publication 526, the following rules apply to any donation of a qualified vehicle.

A qualified vehicle is a car or any motor vehicle manufactured mainly for use on public streets, roads, and highways, a boat, or an airplane.
However, by donating your vehicle to the Alaska Dream Center you can take advantage of the two exceptions to these rules.

The first exception

states that if the Alaska Dream Center makes a significant intervening use of or material improvement to the vehicle before transferring it, you can generally deduct the vehicle’s fair market value at the time of the contribution. By utilizing our auto shop program at AKDC, we make significant improvement in the majority of cars that are donated before we sell them. Thus, our auto shop program allows you to maximize your tax deduction.

The second exception

states that if the Alaska Dream Center gives the vehicle, or sells it for a price well below fair market value, to a needy individual to further the organization’s charitable purpose, you can generally claim a deduction of the fair market value at the time of the contribution. Many of the vehicles donated to AKDC are sold to program graduates trying to start over after leaving AKDC or to one of the many needy families in our community. Again, your automobile donation to AKDC can maximize your tax deduction.
For more information on the tax benefits of donating your automobile, please read the IRS Publication 526 and “A Donor’s Guide to Car Donations”.

If you are with a church or other charitable organization that is not equipped to handle the hassle of automobile donations, we encourage you to use AKDC as an outsourced provider of vehicle donation services. We will gladly arrange the pickup of the donated vehicle as well as handle all of the necessary receipts and IRS paperwork.

When you are ready to donate your automobile to the Alaska Dream Center, please contact us at 907.746.3736 or via email at info@dreamcenterak.org. We can arrange a time for you to drop off your vehicle or set up a time to come and pick up your vehicle for you.