We have a 2016 model vehicle that was fully depreciated as a business vehicle in 2020. I've been letting a family member drive it for their personal use since 2020 but we are thinking of selling it or trading it in.
Are there tax consequences for disposing of the vehicle after 4 to 5 years of personal use?
Can I gift it to a family member with no taxes due?
Are there tax consequences for disposing of the vehicle after 4 to 5 years of personal use?
Can I gift it to a family member with no taxes due?
Statistics: Posted by Smokey21 — Wed May 29, 2024 11:06 am — Replies 13 — Views 914