Are boat donations tax deductible?

For individuals who make a boat donation during a given tax year, the IRS offers tax deductions for qualified gifts. The IRS allows you to deduct for your gift, the fair market value of your boat donation or other watercraft. All boat donations to charity and any other items donated to our charity are tax deductible.

How do I donate a boat?

If you have a boat in good or better condition that you are considering to donate, go to BoatUS.org/Donate/Boat-Donation. Also available are helpful IRS links, including the IRS brochure “A Donor’s Guide to Vehicle Donation,” IRS Publication 526 “Charitable Donations,” and IRS rules for determining maximum deductions for charitable contributions.

Should you donate a boat to a charity?

“Donating your boat now aligns a charity’s interests with your own – they get the most value from the donation to run programs or operations, and more you stand to gain in tax benefits in the form of a tax deduction,” said BoatUS Foundation for Boating Safety and Clean Water Boat Donation Program manager Ted Sensenbrenner.