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Money and Finances
Reply to "gift tax?"
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[quote=Anonymous][quote=Anonymous]Appropriating money given to the kids is essentially fraud under these circumstances since the gift to them is a fiction intended to circumvent IRS rules. Further, the kids would technically then be gifting money to you, potentially requiring associated record-keeping and filings. Be wary of proceeding in that direction. [/quote] :roll: I'd imagine most of the time grandparents are gifting money for down payments it is so the grandkids (in existence or potential) can have more space or go to better schools.[/quote]
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