DesMoinesRegister.com | Editorials: "What's that junker worth?
Don't create so much paperwork that donations of cars to charity are discouraged.
By REGISTER EDITORIAL BOARD
October 7, 2004
The Iowa Council of the United Blind receives more than half its yearly donations in automobiles, which are then sold at auctions for cash. The National Kidney Foundation of Iowa collected more than $45,000 from car donations last fiscal year. During the same period, the American Lung Association of Iowa collected $500,000 from donated cars.
Charities rely on these gifts, but Congress is on the verge of taking action that will make collecting these donations more difficult. At issue is the tax deduction donors get for giving the car.
Senator Chuck Grassley is a member of the conference committee working on this legislation. On Wednesday, he appeared close to winning final approval for the Senate version of the 'selling price rule.' This would require donors to wait until a charity sold the donated car to claim a tax deduction."
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