Your Tax Deduction
Volunteers of America is a tax-exempt charity under section 501(c)(3) of the Internal Revenue Code.
Here’s how your tax deduction works:
If the vehicle is sold by Volunteers of America at auction for $500 or less, you may deduct a fair market value of $500.
If the vehicle is sold by Volunteers of America at auction for more than $500, you may deduct the selling price of the vehicle.
The Internal Revenue Service requires Volunteers of America to obtain your social security/tax identification number. This information is kept confidential and secure. Upon the sale of your vehicle, you will receive a receipt documenting the sales price.