Quote:
Originally Posted by krsplsh
well got the car, but the wife says "no way" we got a family and this is not a family car. so it is for sale...any takers?
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I'm not a tax expert but I would not be surprised that you'll have to pay income taxes on the MSRP of the vehicle; or at the very least; taxes on more "value" than you could actually sell the car for. Then you turn around and sell it for likely 15-25% less than MSRP just to unload it all because it's not a family car???
Do you understand how very few people could ever win a prize like that?
Does your wife understand that you are going to take a bath, financially on what should be a wonderful gift/windfall?
I'm sure you went into this with the best of intentions but a little "pre-planning" would have gone a long way...you would have been better off if you had simply declined the prize and let someone else win it.
