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Reply to "Gift money from parents won't arrive on time - Any suggestion?"
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[quote=Anonymous][quote=Anonymous]there's a $5.25 million exemption for gift tax. so if OP parents are trying not to trigger the gift tax, they've been pretty generous so far (or OP is buying a hell of a house).[/quote] Chances are OP meant the $14k limit below which gifts need not be reported, or subtracted from the lifetime limit of $5 million. I love how even the PP who got gifted money still feel the need to lecture.[/quote]
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