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-   -   Tax liability to anyone if parent gifts a car to a child (https://www.askmehelpdesk.com/showthread.php?t=173154)

  • Jan 16, 2008, 01:56 PM
    q1024
    Tax liability to anyone if parent gifts a car to a child
    When a parent gives a car to his/her child, does anyone incur any tax liability?
    Thanks
  • Jan 16, 2008, 03:06 PM
    AtlantaTaxExpert
    Possibly, if the car is worth MORE than $11,000.

    Otheriwse, no!

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