I've got a car worth about $5,000 that I would like to give as a gift to my girlfriend. How do I go about doing this without her incurring any type of sales tax? We live in California and I don't think I can just sell her the car for $1.
2006-07-18 09:13:30 · 6 answers · asked by Gman 1 in Cars & Transportation ➔ Buying & Selling
You can give the car as a gift and not pay any gift taxes because the car is under $11,000 (the annual limit). You might want to file a gift tax return, though.
2006-07-18 09:17:13 · answer #1 · answered by Princess 5 · 0⤊ 0⤋
You need to tell him how you feel about everything. He does not have to pay for her car he only has to pay child support. Also if the child is going to be living with him that much then he can get his child support changed and probably will not have to pay anything because he will be spending more time with him than he will be spending with the mother.
2016-03-26 22:59:25 · answer #2 · answered by Anonymous · 0⤊ 0⤋
YES! on the bill of sale just put gift and when she insures it it will cost her nothing in taxes.
2006-07-18 09:18:39 · answer #3 · answered by cooltoque 4 · 0⤊ 0⤋
just right gift on the title of the car
2006-07-18 09:18:21 · answer #4 · answered by bllnickie 6 · 0⤊ 0⤋
http://www.fairmark.com/begin/gifts.htm
seems to me that you'd be allowed to do this, check out this sight, looked it up for ya two seconds ago
2006-07-18 09:18:55 · answer #5 · answered by Anonymous · 0⤊ 0⤋
if it's value you under US$10,000 I believe you can
2006-07-18 09:18:23 · answer #6 · answered by Anonymous · 0⤊ 0⤋