Fair market value is about $2700.
If you gift it, then so long as your gift to *any* *one* *individual* in a tax year does not exceed $15,000, then you have nothing to report on any tax return.
If you sell it, you would only need to report it if you sold it for more than you paid for it. We both know that when it comes to cars, that's no gonna happen unless its a collectable.
