gift of an auto to brother

[cbe1057]

What is the name of your state? MD

I live in MD and my brother lives in Chicago, IL. I bought a new SUV and want to know if I can sign the title of my 1996 Explorer over to my brother as a gift. If so, what are the sales tax implications for my brother and what if any would my tax implications be (both annual income tax and estate tax) The Kelly Blue book value is approximately $4,100.00 for the Explorer.

Do I qualify for any deduction on my taxes by doing this?

Thanks!

 

[abezon]

No tax implications at all. You cannot claim a charitable deduction for an individual.