Donate a Yacht — Tax Deduction Guide

The yacht-donation timeline

1. Initial conversation. Call 770-871-9422 with yacht details (year, make, model, length, current location, mooring status, condition). We assess feasibility and discuss appraisal requirements.
2. Qualified appraisal (required for donations >$5,000). An independent IRS-qualified marine appraiser inspects the yacht and produces an appraisal within 60 days of intended donation date. The donor typically arranges and pays for the appraisal (usually $300-$1,500); the cost itself is deductible.
3. Title transfer and pickup. We coordinate marine transport from your slip or storage facility to a sale venue (auction or specialty broker). Title transfers at hand-off. Slip fees stop on transfer date.
4. Sale. Yacht is sold at auction or through specialty marine wholesale. Sale typically happens within 30-90 days.
5. IRS Form 1098-C + Form 8283 packet. Within 30 days of sale, you receive Form 1098-C with the gross sale price. We provide guidance on the Form 8283 Section B filing with your tax return.

What kinds of yachts and large boats we accept

• Power yachts — twin-engine motor yachts, sport-fishers, trawlers, express cruisers
• Sailing yachts — sloops, ketches, catamarans
• Sport fishers — center consoles, walk-arounds, 30-60ft
• Motor yachts — flybridge yachts, salon cruisers, megayachts case-by-case
• Trawlers — long-range cruising yachts
• Catamarans — sail and power
• Project yachts — yachts needing significant work, accepted at salvage value

Yachts must be afloat or stored on land at a marina with road access. For yachts in unusual storage or remote locations, call us — most logistics challenges are solvable.

IRS tax rules for yacht donations

Yacht donations trigger more IRS paperwork than car donations because of the typical value range:

• Deduction = actual sale price reported on Form 1098-C box 4c, the same rule as cars.
• $501-$5,000: File Form 8283 Section A. Rare for yachts but possible for older project boats.
• Over $5,000 (most yacht donations): File Form 8283 Section B and obtain a qualified independent appraisal within 60 days of donation.
• Qualified appraiser: Someone with documented expertise (NAMS, SAMS marine surveyor credentials) who is independent of donor and charity, and who follows USPAP standards.
• You must itemize on Schedule A. Most yacht donors do itemize because of the donation size.

IRS source: Publication 4303 — A Donor's Guide to Vehicle Donations covers boats and aircraft alongside motor vehicles.

Why donors choose yacht donation

• Stop slip and storage fees — marina costs $200-$2,000/month depending on location and size.
• Avoid private-sale hassles — listing, showings, buyer financing, broker fees (5-10%), tax on capital gains.
• Substantial tax deduction — often $10K-$100K+ depending on yacht size.
• Clean break — title transfers; you walk away with paperwork.
• Funds children's services at Cars Helping Kids' beneficiary programs in the North Georgia region.

Frequently asked questions