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If it is a private sale between two individuals then you shouldn't have to report it on your income taxes at all. If you have used it in business or taken business mileage deductions then you probably will have to report the sale on your tax return. You will use the Sale of Business Assets Form and calculate the basis and sale price based on information you did not provide here.
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How much taxes do you have to pay on $600.00?
How much federal taxes do you have to pay on $600?
When do you pay Capital gains taxes on the sale of a business?
When you file your income tax return for the year of the sale.
Short sale tax liability?
Much of whether there is tax liability of a short sale depends on whether the home was a primary residence or not. In most circumstances you will not pay taxes on a short sale if it was your primary residence. This is because of a law that went into effect called the Mortgage Debt Relief Act. If the property was an investment and not a primary residence you may have to pay taxes.
Do you have to pay taxes on sale of inherited property in Illinois?
Yes this could be possible.
What was zabt?
peasants they wont pay taxes then his property will be sale by auction.....is called zabt.
Does an individual who sells a used car have to pay taxes on the money collected for the sale of the car?
Legally he has to pay income tax on the net profit from the sale. It is income and therefore is taxable.
If you have owned a classic car for over 10 years and get a profit on the sale with appreciation do you pay tax on the sale?
The purchaser pays the taxes.
How much taxes pay for new car in Georgia?
4%
Do you have to pay sales tax if someone gives you a used car?
Answeryou will pay more tax if someone gives you a can them if you make out a bill for 100.00 if you do not have a sale bill then you are going to pay taxes on the current value of that vehicle. so if the book says is wot=rth 3000.00 with no bill of sale you will pay taxes on 3000.00. so make out sale bill for the amount that is fair
Do you have to pay taxes on your home sale?
yes
Do you have to pay taxes if you win a car?
If you win a car you are responsible to pay taxes in the state where you live.
How much taxes do you have to pay on $600.00?
How much federal taxes do you have to pay on $600?
If a buy a car from a friend in New Orleans to bring it to Canada how much taxes do I have to pay?
depends on what car
What taxes do you pay if giving a car as a gift in NC?
You don't pay the taxes, the person receiving the car as a gift does.
What kind of state taxes do you have to pay when buying a car in ca?
7.52% of the total sale. If the purchase price was $20,000, the tax would be $1,502.00.
Do you have to pay the taxes in the car you trade in in Virginia?
you would only pay taxes on a difference
If you buy a car in Maryland and live in Virginia where do you pay taxes?
You pay Virginia taxes.
