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So if we give her the car, we can basically take the value of the vehicle off our tax return for this year since it's part of the initial $1M?
Yes or no would be sufficient. And what line would we declare the gift on?
Thank you; that second reply made it perfectly clear.
So if we gave the vehicle to the Juvenile Diabetes Research Foundation like we planned, we could take that gift off on our tax return; depending on how much they're able to sell it for? Or its Blue Book value?