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parent gives money to buy a home
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joe



Joined: 27 Aug 2004
Posts: 1
Posted: Fri Aug 27, 2004 8:38 pm    Post subject: parent gives money to buy a home  
Hi,

My mother will give me $50,000 for down payment to buy a home. Is it tax free gift that I don't have to pay the government?

Thanks
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squirrel



Joined: 29 Jul 2004
Posts: 11
Location: Bucharest, Romania
Posted: Mon Aug 30, 2004 10:33 am    Post subject:  
:) And how will she do that? In an official manner (based on a contract...) or just as a present?
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