Hello everyone,
I’m buying a new car at the moment. It is time to send the payment as we’re paying in cash. My wife and I share our finances, which I have found out causes a lot of problems with gift tax. The issue we’re having is that the money for the car is in her account. Can she pay for the car but have the car be in my name without having to pay any gift tax?
Am I misunderstanding the concept?
by PureYamatoBlood