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Asking more if I have to pay any Ohio sales tax. I guess I would also ask if I have to pay any federal or state gift tax.
Yes, we paid sales tax when we purchased the car before we gifted it to our granddaughter.
Clear answer. Thanks. I can clear this then with my tax person. So if I claim $14,487, $487 would go towards that. Looks like I should claim the worth of $14,000 which I think I can do as it was a month old and depreciated and $14,000 is above the book value anyway!