Do I have to pay taxes if I sell my car? (California)?
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I bought my car a few years ago for $30,000. I plan to sell it (this year) for around $20,000. I plan to sell it to a auto dealer or private buyer. Im in Calif. Questions: 1. After I sell my car, what do I do next? example: do I inform the DMV I sold the Car or pay DMV taxes on the car?, etc,? 2. Do I have to pay taxes on the car (right of way) If I sell it? 3. When I file (income) taxes in Februrary, Do I have to pay (income) taxes on the car (etc.)? 4. Does the place (ex. H@R block) where I file income taxes at in Feb., Do they (H@R block) inform Child Support (I Pay child support) on the following: my tax return, how much income I made for the last year, and money I made on selling my car???? Note: I owe no arrears to child support. I make all my child support payments on time.
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Answer:
No taxes whatsoever. Just take off your tags, keep a copy of the bill of sale and you should be set. It has nothing whatsoever to do with all the other things you mention.
caliman2... at Yahoo! Answers Visit the source
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