Last-Minute Year-End Tax Donations
Racing against the December 31st deadline? Here is what you need to know about claiming your deduction for the current tax year.
The December 31st Cut-Off
To claim a charitable tax deduction for the current fiscal year, your donation must be officially initiated before midnight on December 31st. You do not need the vehicle to be picked up or sold by December 31st, but you absolutely must have completed the initial intake form and received a timestamped confirmation.
The Year-End Rush
The last week of December is the busiest time of the year for the car donation industry. Towing dispatch grids fill up rapidly. If you wait until December 30th to call us, your car may not actually be towed until the second week of January—which is fine, the deduction still counts for the previous year because you initiated the transfer.
Pro Tip for CPAs
If you initiate the donation in December, but the car doesn't sell at auction until February, it may slightly complicate your tax filing if you file extremely early. Your CPA may advise you to file a tax extension until the official 1098-C form arrives in the mail showing the exact gross proceeds of the February auction. Always consult your tax professional!
Ready to support a great cause?
Donating your vehicle is fast, free, and gives you a tax deduction while supporting U.S. Military Veterans.
Call Us 855-581-1201