How to Donate a Boat to Charity
Research before you donate.
Step-by-Step Guide
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Step 1: Research before you donate.
There are a number of sites that offer charitable deductions for your boat, but check to see if they are legitimate before you give away your boat:
See if the organization has 501(c) status with the IRS.Look up the status of the organization on the nonprofit list of the Better Business Bureau.Consult Charity Navigator.Remember, due to the Separation of Church and State, churches and religious organizations are exempt from applying for nonprofit status.
Donations made to these organizations are still considered tax deductible, and as an added benefit, they are 50% organizations which means that you will be allowed to deduct up to 50% of your AGI.
If you cannot find a specific charity in the IRS database, consult the charity to determine whether they fall into this category.;
Detailed Guide
There are a number of sites that offer charitable deductions for your boat, but check to see if they are legitimate before you give away your boat:
See if the organization has 501(c) status with the IRS.Look up the status of the organization on the nonprofit list of the Better Business Bureau.Consult Charity Navigator.Remember, due to the Separation of Church and State, churches and religious organizations are exempt from applying for nonprofit status.
Donations made to these organizations are still considered tax deductible, and as an added benefit, they are 50% organizations which means that you will be allowed to deduct up to 50% of your AGI.
If you cannot find a specific charity in the IRS database, consult the charity to determine whether they fall into this category.;
About the Author
Douglas Morgan
Creates helpful guides on creative arts to inspire and educate readers.
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