- quote -

That still doesn't make it taxable to the recipient, it just
means the recipient must pay the DONOR'S tax. If a gift
were taxable to the recipient, it would first reduce their
unified credit, which of course, if that were the case, the
recipient wouldn't likely owe any tax.

--
David M. Woods, EA
Boston, MA 02109

Postings here are general information only and not to be
relied upon as advice.

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- quote -


Well that's not quite true, if the donor owes taxes on the
gift and fails to pay them the IRS can seek to collect them
at the other end -- there is a silent lien for taxes that
moves with the gift.

However it is 99.999% unlikley that thats your case with a
gift from a church. And even if the van was originally
donated then disposed of, if such missionary work is part of
church there is no recapture at other end either. (If
somebody gifted you a yacht for you health after taking some
grossly inflated FMV deduction there might be a problem but
again most unlikely in your facts. Use the van and enjoy.

As an aside, if your state is one that imposes a hefty sales
tax I would value the Van at its lowest applicable value NOT
including all the handicap modifications and perhaps even a
bit less to allow for the removal of special equipment. Ask
local handicap advocate group before you insert foot with
too much information re sales tax.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->