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June 1, 2019
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If I donate a boat worth $64,000 how much can I write off my taxes in 2016.

  • June 1, 2019
  • 1 reply
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    Best answer by SweetieJean

    Assuming you donated it to an IRS-recognized charity, you can deduct the sale price they get when they sell it, which is likely to be less than $64,000. Also see:

    https://www.irs.gov/charities-non-profits/charitable-organizations/charitable-contribution-deduction...

    1 reply

    June 1, 2019

    Assuming you donated it to an IRS-recognized charity, you can deduct the sale price they get when they sell it, which is likely to be less than $64,000. Also see:

    https://www.irs.gov/charities-non-profits/charitable-organizations/charitable-contribution-deduction...

    June 1, 2019
    So in most cases, you are better off to SELL the boat, and give the proceeds to the charity of your choice.