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Harmony donated a car to a qualified charitable organization. She purchased the car in 2013 for $28,000. The fair market value of the car when
Harmony donated a car to a qualified charitable organization. She purchased the car in 2013 for $28,000. The fair market value of the car when she donated it was $3,750. The charitable organization immediately sold the car for $2,000. They did not significantly use or make any improvements to it. The organization provided Harmony with a Form 1098-C, Contributions of Motor Vehicles, Boats, and Airplanes. How much can she deduct as a charitable contribution on her Schedule A (Form 1040), Itemized Deductions? $500 $2,000 $3,750 $28,000
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