[ltc8k6]

I hope he can pay the gift taxes.

[DFG]

I am an Enrolled Agent.

The donor is responsible for the gift tax. Bob Briceland would only have to file a gift tax return if the Fair Market Value (FMV) on the date of the donation was greater than $15,000.

The recipient’s basis in the gift is the same as the donor’s gift basis.

https://www.irs.gov/businesses/small-businesses-self-employed/frequently-asked-questions-on-gift-taxes

[mikey_hates_everything]

How much is a 16 year old Ford worth?