4 ms·
Right and give them the car two years later and it is taxed, subject to the gift tax exceptions and so on. Proving my point that the rule is that money is taxe
by CPLX 3y ago
Right and give them the car two years later and it is taxed, subject to the gift tax exceptions and so on.
Proving my point that the rule is that money is taxed when it changes hands and the exceptions are exceptions.
- sokoloff 3y agoA couple gifting their 18 (or 38) year old kid a car is unlikely to exceed the gift tax exemption.