How much can I write off for donating a boat?

Your write-off depends on what the charity does with the boat, not simply what you believe it's worth: if the charity sells the boat, your deduction is generally capped at the gross proceeds from that sale, while a handful of exceptions let you claim fair market value instead.

Under IRS rules for donated boats treated as qualified vehicles, if the charity sells the boat without significant use or improvement, your deduction is limited to whatever the boat actually sold for, even if that's less than what you assumed it was worth. You can claim fair market value instead only if the charity uses the boat directly in its charitable programs, makes material improvements before selling it, or sells it at a below-market price to a person in need as part of its mission. If the boat sells for $500 or less, you can generally deduct the lesser of $500 or the boat's fair market value.

Documentation matters as much as the number itself. You'll typically need Form 1098-C (or a similar written acknowledgment) from the charity, and if the claimed deduction exceeds $500, Form 8283 is required. Once the value crosses $5,000, the IRS requires a signed qualified appraisal to support the deduction, and you must itemize your return for any of this to reduce your taxable income.

Because fair market value hinges heavily on condition, systems, and comparable sales, a boat appraisal for charitable donation from a qualified marine appraiser gives you the documentation needed to support whichever figure applies to your situation. Our appraisers determine fair market value and prepare the signed Form 8283 qualified appraisal documentation your return requires, whether your deduction is based on the charity's sale price or on fair market value under one of the exceptions.