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Deductions & credits
@ebarstad No, there is no tax benefit for gifting a car to an individual. There is no tax deduction for gifts.
Note that the preceding discussion is a year old. The $16,000 gift tax exclusion applies to 2022. For 2023 it's $17,000, and for 2024 it will be $18,000.
‎December 7, 2023
11:49 AM
17,612 Views