View Single Post
Old 03-13-2019, 08:11 AM   #6
twistedtree
Guru
 
twistedtree's Avatar
 
City: Vermont
Join Date: Jan 2013
Posts: 10,092
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...
__________________
MVTanglewood.com
twistedtree is offline   Reply With Quote