1. Sign-up to become a member, and most of the ads you see will disappear. It only takes 30 seconds to sign up, so join the discussion today!
    Dismiss Notice

Anyone sold a car recently?

Discussion in 'Archived Threads 2001-2004' started by Luc, Sep 10, 2001.

  1. Message #1 of 3 Sep 10, 2001
    Luc

    Luc Stunt Coordinator

    Joined:
    Sep 6, 1999
    Messages:
    227
    Likes Received:
    0
    Trophy Points:
    0
    I'm planning on selling a truck for 15K. I know you have to pay the DMV a transfer fee. How will the taxes work such as sale tax? The truck was bought for 23K a couple of years ago. What do you report on your tax return?
     
  2. Message #2 of 3 Sep 10, 2001
    ken thompson

    ken thompson Second Unit

    Joined:
    Jun 5, 2000
    Messages:
    251
    Likes Received:
    0
    Trophy Points:
    0
    As far as trasnfer fees and sales taxes, I'm pretty sure that will be the responsibility of the purchaser. And there is nothing you need to report on your tax return.
     
  3. Message #3 of 3 Sep 10, 2001
    ken thompson

    ken thompson Second Unit

    Joined:
    Jun 5, 2000
    Messages:
    251
    Likes Received:
    0
    Trophy Points:
    0
    As far as trasnfer fees and sales taxes, I'm pretty sure that will be the responsibility of the purchaser. And there is nothing you need to report on your tax return unless you've taken depreciated expense on it in an amount greater than $8K.
     
(You must log in or sign up to post here.)

Share This Page