Home     Law Advice     Insurance Advice     Community    
Tax Law : Federal, State and Local Income Taxes, Sales Taxes, etc. For Estate, Gift and Inheritance Taxes, Please Post Under Will, Trusts & Estate Planning
Go Back   FreeAdvice Legal Forum > TAX LAW > Tax Law
Reload this Page gift tax

Powered by Attorney Pages


  Find An Attorney In Your Area    
 

Reply
 
LinkBack Thread Tools Rate Thread Display Modes
  #1  
Old 03-03-2005, 01:41 PM
Junior Member
  
Join Date: Mar 2005
Posts: 1

gift tax

What is the name of your state? I live in WA state. Mother CA.
My father passed away in April 2004. my mother paid off his mercedes that is registered in both of their names. I have been driving the vehicle in WA, alhtough it is registered in CA. I am trading in the vehicle in WA to purchase another vehicle and my mother has signed the vehicle over to the dealership. Should she be on my car loan of the car I am purchasing to avoid the gift tax? Will she have a gift tax for signing over the vehicle to a dealership? What is the best route. Please help me!
Carisa
  #2  
Old 03-03-2005, 04:53 PM
Senior Member
  
Join Date: Aug 2003
Posts: 1,848
If the value of the vehicle is greater than $11,000, she will need to file a gift tax return. However, no tax will be due.

Snipes
__________________
This post does not create an agreement to represent you before the IRS, nor does it invoke confidentiality regulations. Postings are based only on the information provided and you should consult a tax professional in your area before relying on information contained in this post.
Reply

« Previous Thread | Next Thread »


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes Rate This Thread
Linear Mode Linear Mode
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Forum Jump

All times are GMT -5. The time now is 07:14 PM.

Contact Us - FreeAdvice - Archive - Privacy Statement - Top

IMPORTANT NOTICE
THE VIEWS EXPRESSED ON THIS PAGE WERE NOT REVIEWED BY THE EDITORIAL STAFF OR ATTORNEYS AT FREEADVICE.COM. Thousands of professionally prepared and reviewed questions and answers in 130 legal categories are to be found at the Question and Answer pages at FreeAdvice.com.
FreeAdvice Forums are intended to enable consumers to benefit from the experience of other consumers who have faced similar legal issues. FreeAdvice does NOT vouch for or warrant the accuracy, completeness or usefulness of any posting or the qualifications of any person responding. Use of the Forums is subject to our Terms and Conditions which prohibit advertisements, solicitations or other commercial messages, or false, defamatory, abusive, vulgar, or harassing messages, and subject violators to a fee for each improper posting. All postings reflect the views of the author but become the property of FreeAdvice. Information on FreeAdvice or a Forum should not be relied upon and is not a substitute for advice from an attorney licensed in your jurisdiction who you have retained to represent you. To locate an attorney visit AttorneyPages.com. Copyright since 1995 by Advice Company. All Rights Reserved.