auto TITLE questions..
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auto TITLE questions..
Ok heres the story,one of my cars I didnt buy,I bascially traded something for it.So theres no $ amounbt on the title.. just "gift" on it..
So..
Am I stuck paying taxes on the book value of it,
or is there a gift tax,and how much?
85 Mazda RX7
So..
Am I stuck paying taxes on the book value of it,
or is there a gift tax,and how much?
85 Mazda RX7
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I think you will be alright. Call them and ask them what to put down in that blank. Just tell them your parents gave you it, so what should you to fill in the blank. It wont cost you anything to ask them.
Whenever i buy a car from a private seller, i always ask them to put less than $600 on the selling price of the car, though i buy it for more.
Whenever i buy a car from a private seller, i always ask them to put less than $600 on the selling price of the car, though i buy it for more.
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If they ask for an amount, just put $100. The worst that will happen is you'll get a letter from the state asking why it was so cheap. When I bought my wife's 98 Mustang, I put $1k. Got the letter from the state, sent a reply saying the motor was blown and it needed body work (all lies, but they don't know). That's the last I heard about it 
Spent more money than you
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werd
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LHT Performance
My tuner is named Alpha
Roque Fab = The best Fabricator in the WHOLE WORLD
The best engine in the world is the vagina, it takes any size piston, its self lubricating, starts with 1 finger, and every 4 weeks does its own oil change. It's just a pity the management system is so fucking temperamental.
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Originally Posted by Fordified
If they ask for an amount, just put $100. The worst that will happen is you'll get a letter from the state asking why it was so cheap. When I bought my wife's 98 Mustang, I put $1k. Got the letter from the state, sent a reply saying the motor was blown and it needed body work (all lies, but they don't know). That's the last I heard about it
I doubt they will ask why $100.
They will probally respond with "Blown apex seals?"
Originally Posted by Illswyn
I've ignored 2 of those letters. Never heard anything more about it.
