What is the name of your state? VA
I am thinking about selling my car to my son in law but have questions on how to do it. If I could then I was just give it to him for free, but I believe there would be gift tax that I would need to pay. Can I sell my car for $1 to him so that no taxes will need to be charged?
Thanks in advanced!
Tim
I am thinking about selling my car to my son in law but have questions on how to do it. If I could then I was just give it to him for free, but I believe there would be gift tax that I would need to pay. Can I sell my car for $1 to him so that no taxes will need to be charged?
Thanks in advanced!
Tim