Charlotte Observer | 11/01/2004 | Tax break on car donations likely to shrink

Charlotte Observer | 11/01/2004 | Tax break on car donations likely to shrink: "MR. WATCHDOG
Tax break on car donations likely to shrink
ANDREW SHAIN
The size of the tax break you get from donating a car to a charity will likely fall as the New Year's ball drops on Time Square.
Starting Jan. 1, the deduction is based on the amount the charity gets for selling the car, not by the fair-market value determined by the owner. That switch could cost taxpayers hundreds in deductions.
The law was changed in response to taxpayers who claimed large deductions for cars that netted little for the charity on the wholesale market."