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Reply to "Father wants to gift me money "
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[quote=Anonymous]Your parents can gift you $19,000 per year ($38,000 for both mom and dad) without having to file any paperwork. If you have a spouse, that doubles to $76K. Assuming that's the case, you could put that money in a separate brokerage account and invest in fixed income securities so it doesn't lose value. You'll have to pay taxes on any earnings which you could withdraw (or not). otherwise, let the money grow and have it available for their use. What you invest in also depends on the likelihood of them needing that money. [/quote]
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