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How do I legally trade cars with my daughter and not have to pay taxes?

Asked by eddieboy (33points) October 11th, 2009

I want to drive my newer car from Memphis,TN. to Tucson, AZ. My daughter lives there. I want to transfer the titles of my car to her as a GIFT and not pay taxes. She wants to transfer the title of her old car as a GIFT to me and not pay taxes. We have clear titles on both cars. How do I do this?

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