{"id":437,"date":"2020-09-21T11:18:42","date_gmt":"2020-09-21T11:18:42","guid":{"rendered":"https:\/\/www.tax1099.com\/blog\/?p=437"},"modified":"2025-07-11T07:31:21","modified_gmt":"2025-07-11T07:31:21","slug":"what-is-form-1098-c","status":"publish","type":"post","link":"https:\/\/www.tax1099.com\/blog\/what-is-form-1098-c\/","title":{"rendered":"What Is Form 1098-C?"},"content":{"rendered":"

Form 1098-C<\/a> – When you need to report contributions of airplanes, boats, and motor vehicles, the IRS requires you to report 1098-C.<\/p>\n

When You Need to File 1098-C<\/h2>\n

If you donate a vehicle that amounts to a sum greater than $500, you must file 1098-C<\/a>. Each contribution constitutes a new form.<\/p>\n

For a motor vehicle to be qualified, its manufactured purpose must be mainly for use on highways, roads, and public streets. All boats and airplanes qualify.\u00a0<\/p>\n

Alternatively, items that donors regularly sell as inventory do not qualify for 1098-C. For example, a car dealer\u2019s donation will not qualify.\u00a0<\/p>\n

Who Must File Form 1098-C<\/h3>\n

A donor organization is responsible for filing a Form 1098-C for each qualified vehicle.<\/p>\n

Additionally, the organization that received the donation is required to fill out different documentation; it contains the same information that is collected on 1098-C.<\/p>\n

This written acknowledgment is synchronous and must be furnished to the donor under section 170(f)(12) of Copy B of Form 1098-C.<\/p>\n

This process allows the donor to be able to file the donation. An acknowledgment qualifies as contemporaneous, or synchronous if supplemented no later than 30 days following the:<\/p>\n