I want to gift my old car

[lkburton]

What is the name of your state? I live in Texas, my friend lives in Missouri. She struggles financially. Can I give her the car, worth about $5K, without either of us paying gift or sales tax? Can I deduct the value of the car off my taxes? If she has to pay sales tax, can I sell it for $10?

Thanks.

 

[Snipes5]

What is the name of your state? I live in Texas, my friend lives in Missouri. She struggles financially.

Can I give her the car, worth about $5K, without either of us paying gift or sales tax? Yes.

Can I deduct the value of the car off my taxes? No.

If she has to pay sales tax, can I sell it for $10?Yes.

Thanks.

You're welcome