Do I need to report a car that I received as a donation
My parents gifted me a car a few months ago. Do I need to add this to my tax filing papers? Or do I list a donated vehicle only when I am the one donating instead of receiving a donation? The car is well maintained but is 5 years old.
01651
1 Best answer
xmasbaby0
Level 15
Jun 3, 2019 4:42:15 PM
Gifts are not taxable. You do not report the gift on your tax return.
1 Replies
xmasbaby0
Level 15
Jun 3, 2019 4:42:15 PM
Gifts are not taxable. You do not report the gift on your tax return.