Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 6, 2019 1:37:37 AM

Do i pay taxes if i gift a car

My wife is gifting a car to my sister. The value of the vehicle is between 3-5,000. Besides the DMV gift tax fee of $10, do either donor or recepient pay any additional taxes or report on tax return?

0 2 17661
2 Replies
Level 15
Jun 6, 2019 1:37:37 AM

No.  The recipient of a gift does not pay taxes on a gift received.  Unless you give gift of over $14,000 to one individual, you do not have to file a 709 gift tax form--and even if you gave such a gift, there would not be tax on it.  You can give your sister the car without any tax consequences.

New Member
Feb 12, 2020 4:41:31 AM

You stated "even if you gave such a gift, there would not be tax on it." If I gift a car over $15,000, are you saying that I still don't have to pay the gift tax?