A qualified vehicle is defined as a car/motor vehicle (used mainly on roads & highways), boats and airplanes.
If you donate a qualified vehicle to a qualified organization and your donation is worth more than $500, you can donate depending on the following scenarios:
- If your vehicle is to be re-sold by a qualified organization, you can deduct the gross proceeds from the sale of the vehicle.
- If your vehicle is to be used by a qualified organization to fulfill their charity work, you can deduct the vehicle’s fair market value on the date of the contribution. You can find your motor vehicle’s worth at Kelley Blue Book.