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  1. #1
    Join Date
    May 2010
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    Texas
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    5

    Default How to Give a Car As a Gift

    My sister-in-law is giving me a 1992 Honda Prelude. Can she claim that as a tax writeoff at the end of the year? What else do I need besides the title in order to attain ownership and register the car...ie, gift receipt or bill of sale even though there was no money exchange?

  2. #2
    Join Date
    Sep 2005
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    Default Re: How to Give a Car As a Gift

    Why do you think she would she get a tax write off for giving you a present? Do you deduct the Christmas gifts you buy for your friends and family?

    After she transfers the title over to you, you would take it to the DMV office (or equivalent) for your undisclosed state and register the vehicle in your name. You will also need to obtain insurance. The DMV may require proof of insurance at the time of registration.

  3. #3
    Join Date
    May 2010
    Location
    Texas
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    5

    Default Re: How to Give a Car As a Gift

    Wow! I can tell you're not a legal expert. Some states require you to pay a gift tax fees when you go to register and title a vehicle if the relationship between the parties involved are other than immediate family members if the car was free or given as a gift. And I was simply asking would she be able to claim that just like she would be able to if she were donating to a charity.

    But thanks for your advice.

  4. #4
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    Sep 2005
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    Default Re: How to Give a Car As a Gift

    Quote Quoting complicated
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    Wow! I can tell you're not a legal expert. Some states require you to pay a gift tax fees when you go to register and title a vehicle if the relationship between the parties involved are other than immediate family members if the car was free or given as a gift.
    You didn't ask about how to document a gift to the DMV to avoid taxes associated with the transfer of a car. You asked if you could write off a gift on your taxes. If you're too dense to understand the difference I doubt that anybody here can help you.

  5. #5
    Join Date
    Oct 2007
    Location
    Ohio
    Posts
    2,592

    Default Re: How to Give a Car As a Gift

    What else do I need besides the title in order to attain ownership and register the car...ie, gift receipt or bill of sale even though there was no money exchange?
    You need to have enough money to pay the sales tax on the car.

    The DMV is on to gift ideas as tax dodges and will simply compute the NADA value of the vehicle (absent a salvage title) and charge you tax on the full value.

    And if you think that Mr. K is not a legal expert, you will be facing an uphill climb in your life's quest. Grow up.

  6. #6
    Join Date
    May 2010
    Location
    Texas
    Posts
    5

    Default Re: How to Give a Car As a Gift

    Well you guys are supposed to be the legal advisors...I thought that was the purpose of this forum. However, if you are going to make smart ass comments in an attempt to degrade someone's intelligence or make them feel less knowlegable than you guys when they come to you with what they feel are legimate and simple questions...then I suggest we all hirer local attorneys while you guys play let's degrade and insult the consumer's that seek you for advice.

  7. #7
    Join Date
    Oct 2009
    Posts
    158

    Default Re: How to Give a Car As a Gift

    Quote Quoting complicated
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    Can she claim that as a tax writeoff at the end of the year?
    Are you a qualified charitable organization? That is, have you received your 501(c)(3) tax-exampt status from the IRS, or are you a church or other religious organization?

    If not, she will not be able to deduct her gift to you when she itemizes her federal income taxes.

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