Blue Book Value For Used Ca

Q.I have a 1984 Chev Caprice that runs great with 188,000 miles. I don't need it anymore since I bought a new ISUZU OASIS for long trips. The trade in value for the Caprice was always less than 1000 dollars. Is it possible to come out better taking a tax writeoff by giving it to charity when I am through with it ? Has anyone in the group done this ? If so, what are the ins and outs ? How much can you take off ? How is the writeoff amount determined ?

A.A friend of mine had a 1988 car with over 200K miles on it (he drove a *long* way to and from work every day). The engine had "blown up" twice (something about the ... um, maybe the air chamber?) and it leaked oil. He didn't want to sell it to anyone in case it "blew up" again, because we have a Lemon Law here in Massachusetts that would have required him to make financial restitution to the buyer. Anyway, he donated the car to ... some charity, which one escapes me. They came to the house and took the car away on a flatbed. He got an official receipt for the *BLUE BOOK VALUE* of the car, which was over $2500. At his income tax rate of something like 30 percent, that meant a tax savings of $800. I'd definitely recommend doing this if you have a car that's worth less than its official book value.

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