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re: Gifting a car or selling it for cheap???
Posted on 3/14/24 at 3:06 pm to ChexMix
Posted on 3/14/24 at 3:06 pm to ChexMix
quote:
I know I got down voted, but if the irs doesn't have a record of the sale, did it really happen? No one is sending the sale info to the irs.
The IRS has zero clue about how much you paid, or anything. It's all self reported by you, the gullible taxpayer. W2 I come is reported to both fed and state. Same with 1099s. Same with real-estate sales.
Personal sales are not. Stop paying taxes on crap they can't track.
You're welcome
How do you plan on registering the vehicle without reporting the sale?
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