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The article has been updated successfully but requires approval before it is published.When do I need to fill out a car gift form?
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Each state adheres to different title transfer rules, including when gifting. Some states require submitting a completed car gift form, while others only require writing the word "Gift" on the title's designated price line or on a bill of sale.
If you reside in a state that requires a gift form, you'll use it when, obviously, giving a car as a gift. This means no money was exchanged. A gift form will then protect the recipient from being charged a state sales tax. Gift forms can be downloaded from your state's DMV Web site, or picked up at any DMV office.
Some states may also require submitting a gift form when donating a car. This in turn will, if applicable, help earn you a tax deduction. But be sure to check with your DMV for car donation requirements.
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