Expert Advice When You Need It Most

Title taxes on a gifted vehicle

Asked about 3 years ago - Houston, TX
Business Business Taxes Tax

title taxes on a gifted vehicle

Save

Attorney answers (1)

Reputation Level 17
Answered about 3 years ago. Debt / Lending Agreements Lawyer in Houston, TX.
I'm not quite sure what your asking, but when you go to change the title to your name, the clerk will demand payment of a fee for the transfer. If this is not a sale there should be no taxes. However, there may be federal taxes to be paid by you or the donor if the value of the vehicle is more than $12,000.
Add comment

Related Questions

2

Attorney answers:

Steven J. Fromm Henry Daniel Lively
Timing of gifts for tax purposes

Asked by a user in Bellport, NY - almost 2 years ago.

Tags: Business Business Taxes Tax

3

Attorney answers:

Bryant Keith Martin Robert Jan Suhajda Henry Daniel Lively
Understanding the Federal Gift Tax????

Asked by a user in Gainesville, FL - 11 months ago.

Tags: Business Business Taxes Tax

4

Attorney answers:

Charles Adam Shultz Christopher Michael Larson John Addison Vos Jeffrey David Katz
Tax Implication on Loan vs Gift

Asked by a user in San Jose, CA - 16 days ago.

Tags: Tax

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.

 
Ask now

This Week's Top Trademark Application Contributors

1.
Michael Charles Doland
Michael Doland
Reputation Level 15
2.
Bruce E. Burdick
Bruce E. Burdick
Reputation Level 15
3.
Frank Wei-Hong Chen
Frank Chen
Reputation Level 20
View all lawyers on the Trademark Application Leaderboard

Find Trademark Application Lawyers