Friend of mine is getting a new vehicle and has a 1996 Chevy Blazer they are going to part with. They decided to give it to me. I’ve heard you get taxed when you get a car for free and I was just curious about how much it would run me, so I was wonderin if there was a way to look it up.
Or, if it turns out I am mistaken on that tax idea, point that out instead. =D
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Get a bill of sale for $1.00,will avoid the gift tax so your tax will be on the dollar amount.Gift tax would be based on blue book value.