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Richard, Tax Attorney
Category: Tax
Satisfied Customers: 53705
Experience:  29 years of experience as a tax, real estate, and business attorney.
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I live in Florida. I will be retiring soon and my employer

Resolved Question:

I live in Florida. I will be retiring soon and my employer is going to give me my company vehicle as a retirement gift. Will there be any income tax liability for me or the employer? The vehicle value is $45,000.
Submitted: 5 years ago.
Category: Tax
Expert:  Richard replied 5 years ago.

Good evening. Yes, this gift is going to be considered income and must be included in taxable income.



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