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Anyone ever trade vehicles with someone?
Posted on 11/27/16 at 11:58 am
Posted on 11/27/16 at 11:58 am
My brother-in-law and I have a mutual need for each other's 3rd vehicle. Clear titles for both and they are worth the same amount.
What's the process? Sign title over to each other and then register in our respective state?
Can it be that easy? Can we donate them to each other somehow for a tax deduction?
What's the process? Sign title over to each other and then register in our respective state?
Can it be that easy? Can we donate them to each other somehow for a tax deduction?
Posted on 11/27/16 at 12:01 pm to LessofLes
quote:
Can it be that easy? Can we donate them to each other somehow for a tax deduction?
You gonna not claim the receipt of his donation on yours?
Posted on 11/27/16 at 12:02 pm to DirtyMikeandtheBoys
True. That would be a wash.
Posted on 11/27/16 at 12:12 pm to LessofLes
I did it without hassle. But I went to a car/title/notary place. Worth the 138 or something in fees to have it all done there and proper. No need to go to DMV or anything.
This post was edited on 11/27/16 at 12:14 pm
Posted on 11/27/16 at 2:18 pm to LessofLes
I did this before. Now in La anyone can donate a vehicle to anyone else. You used to have to be immediate family (I believe). No taxes will be paid with act of donation.
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