Form 1098-C
Contributions of Motor Vehicles, Boats, and Airplanes
Contributions of Motor Vehicles, Boats, and Airplanes
Form 1098-C, “Contributions of Motor Vehicles, Boats, and Airplanes,” is a tax form used by charitable organizations to report the donation of motor vehicles, boats, and airplanes to the Internal Revenue Service (IRS). It’s an important form for both the charitable organization and the donor, especially if the donor intends to claim a tax deduction for the donation. This form is part of the 1099 series, which are used to report various types of income that individuals may receive throughout the year other than salary from an employer. It is an essential document for tax reporting purposes, ensuring that interest income is correctly reported to the IRS.
Per the IRS, use Form 1098-C to report:
Each contribution of a qualified vehicle that has a claimed value of more than $500. A qualified vehicle is:
- Any motor vehicle manufactured primarily for use on public streets, roads, and highways.
- A boat.
- An airplane.