Form 1098-C

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Form 1098-C

A form published by the IRS that a non-profit organization uses to report the value of the donation of a boat or motor vehicle. The form is reported to the IRS and sent to the donor. Because charity donations are tax deductible, receiving Form 1098-C and reporting the value of the donation to the IRS may significantly impact one's tax liability.
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Although the IRS offers specific guidance if the client does not receive the Form 1098C (that is, file an extension and wait until it is received, or forego the deduction if it is not received), it does not offer specific guidance if the value of the benefit is not provided.