Transfered my truck to my son worth $13,000 (paid off), how can I claim it for credit?

vbm9342 · ‎June 4, 2019

Can this be considered as gift and do I qualify to get tax credit?

xmasbaby0 · ‎June 4, 2019

A gift to your son is not deductible. Gifts to individuals are not deductible nor are they taxable for the person who received the gift.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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xmasbaby0 · ‎June 4, 2019

A gift to your son is not deductible. Gifts to individuals are not deductible nor are they taxable for the person who received the gift.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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Transfered my truck to my son worth $13,000 (paid off), how can I claim it for credit?