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Reply to "gift tax?"
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[quote=Anonymous][quote=Anonymous]Both of them can give both of you up to $16K before triggering [b]the paperwork.[/b] So that's $64K. Depending on your purchasing horizon they could do that now and again in January for $128K. But as pp said, they can give you more, they'll just have to file the appropriate paperwork. [/quote] We have done this for many years. Our accountant has to do "something" on our tax return but we certainly don't pay "gift tax". Life time max is 11-12 mil so most people don't have to worry about that. [/quote]
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