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can a retired person donate a car and file for taxes?
0
votes
my dad has a 1994 car that he wants to donate but he says he can't because he is retired and he doesn't file taxes anymore, what can he do?
asked
6 months
ago
in
Donate a Car
by
TradeShow
(
27,380
points)
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3 Answers
0
votes
if he collects social security benefits - he should be filing a tax return - those benefits are taxable - does he have any other income like interest or pension? those are taxable also.
answered
6 months
ago
by
HealthInsurance101
(
28,800
points)
0
votes
If he doesn't have to file taxes, or even if he did but didn't have any tax liability, a charitable donation wouldn't give him any tax benefit. Even if he did have tax liability, there would be no tax benefit unless he had enough deductions to itemize.
A donation can only reduce your tax - since his is already zero, there's nothing to reduce.
That doesn't stop him from donating the car, just means he doesn't get a tax benefit for it.
answered
6 months
ago
by
ChickenCoop
(
24,700
points)
0
votes
He can sell the car and donate the money--the charity would get more money that way....
(By the way, he can't sell the car to you for $1 and have you donate it, because if he did, your deduction would be limited to $1.)
answered
6 months
ago
by
LemonLawAttorney
(
27,380
points)
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