Long time lurker, first time poster. Employer gave me a car in 2015, denoting it as a gift with a value of $6,500.

Later in the year, I decided to part ways with the car, as it was a bit of a lemon and I couldn't justify sinking money into a third transmission rebuild. (My boss had already done it twice before giving it to me, so I knew it was going to keep being an issue.) 

Sold it to carmax for $4,000 in October of 2015. 

In late December of 2015, I received my yearly bonus check and in addition to my bonus, they (my employer, with the guidance of their CPA) gave me an extra lump sum along with the bonus to "cover the taxes on the car." I think it was around $1,200 if memory serves. 

So now, I'm at the final step in turbo tax, about to file, and haven't found a spot to punch this income / gift anywhere. I called the turbo tax help line and the guy said to amend my return with a IRS form 709. This raised my eyebrows with further research, as it seems like the gift-giver, not the recipient should be the one who fills out the form. Further still - since the value was well underneath the $14,000 threshold for a form 709, I'm wondering if either of us needs to even bother with this? 

I did a search before submitting this but couldn't find an instance where an employer gave a car to an employee, along with a lump sum of cash to cover taxes for it. Any guidance here is very much appreciated.
user
employer gave me a car, along with lump sum of money to pay taxes. Don't have any idea where to
assistant
Long time lurker, first time poster. Employer gave me a car in 2015, denoting it as a gift with a value of $6,500.

Later in the year, I decided to part ways with the car, as it was a bit of a lemon and I couldn't justify sinking money into a third transmission rebuild. (My boss had already done it twice before giving it to me, so I knew it was going to keep being an issue.) 

Sold it to carmax for $4,000 in October of 2015. 

In late December of 2015, I received my yearly bonus check and in addition to my bonus, they (my employer, with the guidance of their CPA) gave me an extra lump sum along with the bonus to "cover the taxes on the car." I think it was around $1,200 if memory serves. 

So now, I'm at the final step in turbo tax, about to file, and haven't found a spot to punch this income / gift anywhere. I called the turbo tax help line and the guy said to amend my return with a IRS form 709. This raised my eyebrows with further research, as it seems like the gift-giver, not the recipient should be the one who fills out the form. Further still - since the value was well underneath the $14,000 threshold for a form 709, I'm wondering if either of us needs to even bother with this? 

I did a search before submitting this but couldn't find an instance where an employer gave a car to an employee, along with a lump sum of cash to cover taxes for it. Any guidance here is very much appreciated.
user
Employer gave a car to me in 2015, I sold it, and now I'm at the final step in turbo
assistant