Donating a car? You can't deduct as much

Deduction rules are changing for car donations. Know the rules before you donate your car to a charity.
USATODAY.com - Donating a car? You can't deduct as much

Donating a car? You can't deduct as much
By Mindy Fetterman, USA TODAY
If you've heard you can't get as big a tax deduction if you donate a car to charity in 2005 as you did before, you're generally right. But it can depend on who buys the car or who will use it.

A change in tax laws for 2005 limited the amount you can deduct for donating a car. No longer can you always deduct the amount you estimate as its "fair market value." Now, in most cases, you can deduct only the amount the car actually sells for at auction.

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