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IRS Issues Guidance on Charitable Deductions for Donated Cars

Irs_6 The IRS on Friday issued Notice 2005-44, providing 22 pages of guidance on charitable deductions for donated vehicles. The American Jobs Creation Act (AJCA) generally limits the deduction for vehicles to the actual sales price of the vehicle when sold by the charity, and requires donors to get a timely acknowledgment from the charity in order to claim the deduction.


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