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Old 03-13-2019, 08:11 AM  
twistedtree's Avatar
City: Gloucester, MA
Country: USA
Join Date: Jan 2013
Posts: 4,518
I think tax would be due based on the value of the transaction. Just because you paid with a boat rather than cash doesn't change the value of the transaction. There are often exemptions for legitimate gifts, like between family members, but this doesn't qualify as a gift since you paid for it with the title to your boat...
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