Has anyone donated a boat to charity?

gracecharity

I'm looking for some advice about donating my boat to charity. I researched online boat donation and they seem pretty legitimate and I really like the causes that they benefit. I found that I can donate my yacht and receive a tax deduction and think this is a better option than trying to sell it myself. Has anyone else donated their boat to charity? I'm looking for feedback of any kind. Thank you 

Wildboating

I have not, so I can not offer constructive information however I too am interested in this approach.  I am subscribing to this message.  

nhsd

 In most cases, if the charity is not going to use the boat directly in pursuit of its charitable purpose (i.e. if the charity is going to sell the boat and use the money), then your tax deduction is limited to the eventual sales price, not book or even appraised value. The days of donating the clunker with a high "book value" and getting a tax deduction well in excess of true value on the market are long gone in most instances. Of course, it is government, so exceptions do apply. See the IRS booklet at: 

http://www.irs.gov/pub/irs-pdf/p4303.pdf

explore7425

I can attest to that. I donated a boat years ago. They will sell it for whatever and then give you that number to write off.