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Anyone with experience trading cars between 2 people in CA ?
Say I want to trade my car for another guy's, and vice versa. We'd swap my early 911 for his late 356.
I thought no money changing hands would lead to not much tax if any, ha! Seems CA wants Fair Market Value regardless, but others report doing it as a gift transaction...
Anyone done that before ? Seems crazy to pay $$$ tax on a no money transaction! Can't be right...
If that were so I guess the only benefit would be IRS related, since you did not get $ in a sale.
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