Offered $28,000 Cash For My 2007 IS350
02-17-10, 10:34 PM
#31
Lexus Fanatic
Yea, just mail me the check for $5K and be done with it, lol.
02-17-10, 11:55 PM
#32
http://wiki.answers.com/Q/Does_selli...me_tax_on_that
on a rare instance that a car gains value (a collector's item, limited edition, etc.) you'll have to pay taxes. i challenge anyone to sell a car ABOVE the market value. ive done so with my 94 toyota supra TT 6 spd manual. i believe gas emissions were changed in 95-96. that was my dad's car that he passed down to me. some cars just appreciate- theres no denying that. it was well above book value for the price we sold it for, and yes....we did pay capital gains tax on it. some may be attacking my approach towards taxes, but taking the necessary courses in accounting and tax preparation, i can only account for what ive experienced. it is what it is.
on a rare instance that a car gains value (a collector's item, limited edition, etc.) you'll have to pay taxes. i challenge anyone to sell a car ABOVE the market value. ive done so with my 94 toyota supra TT 6 spd manual. i believe gas emissions were changed in 95-96. that was my dad's car that he passed down to me. some cars just appreciate- theres no denying that. it was well above book value for the price we sold it for, and yes....we did pay capital gains tax on it. some may be attacking my approach towards taxes, but taking the necessary courses in accounting and tax preparation, i can only account for what ive experienced. it is what it is.
02-18-10, 12:10 AM
#33
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Join Date: May 2007
Location: NV
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http://wiki.answers.com/Q/Does_selli...me_tax_on_that
on a rare instance that a car gains value (a collector's item, limited edition, etc.) you'll have to pay taxes. i challenge anyone to sell a car ABOVE the market value. ive done so with my 94 toyota supra TT 6 spd manual. i believe gas emissions were changed in 95-96. that was my dad's car that he passed down to me. some cars just appreciate- theres no denying that. it was well above book value for the price we sold it for, and yes....we did pay capital gains tax on it. some may be attacking my approach towards taxes, but taking the necessary courses in accounting and tax preparation, i can only account for what ive experienced. it is what it is.
on a rare instance that a car gains value (a collector's item, limited edition, etc.) you'll have to pay taxes. i challenge anyone to sell a car ABOVE the market value. ive done so with my 94 toyota supra TT 6 spd manual. i believe gas emissions were changed in 95-96. that was my dad's car that he passed down to me. some cars just appreciate- theres no denying that. it was well above book value for the price we sold it for, and yes....we did pay capital gains tax on it. some may be attacking my approach towards taxes, but taking the necessary courses in accounting and tax preparation, i can only account for what ive experienced. it is what it is.
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