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QUESTION DETAIL
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I I donated a vehicle to charity for the tax deduction, will it apply to this year's tax return or can it offset last year's tax liability?
ANSWER
The BIDaWIZ Team's Answer:
Current year charitable donations can only be deducted against current year taxable income. If you had a tax refund for the current year, then that could certainly be applied to last year's tax liability. However, it cannot be directly applied to last year's liability.
