Guest
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 Posted:
Mon Nov 14, 2005 9:00 am Post subject:
Tax implications from selling car received as gift |
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I received a car from my brother earlier this year as a
gift. I now want to sell the car, and I am curious if I
will have to pay capital gains or any other kinds of taxes
on the sale of the car.
My brother transferred the car to me as a gift valued under
$11000, I paid a title transfer fee and ad valorem tax in
GA. The value of the car is now somewhere around $9000.
TIA,
Ken
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