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Reply to "Selling stock for down payment - timing?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]What's the most tax-effective way to deal with a large cash gift for downpayment from immediate family? Any way to avoid documenting?[/quote] Won't you need a letter from your family stating that it is a gift and not a loan for your lender?[/quote] Also, you should feel lucky that you're getting significant family assistance and not try to cheat out of any taxes owed (which there probably would not be). [/quote]
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