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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Just have them give you money. Why would you take payment from a parent to help?[/quote] We already get the max money as a gift so I did not know I could take more than that legally and without paying taxes. I had heard of the $13M exclusion but then I wonder why would they have the annual limit of $19K? It did not make sense to me. My understanding was that my parent would have to pay tax on anything over the $19K they already give me. The sibling also gets the max gift. Parent wanted to compensate me. OP [/quote] I’m honestly distressed by how many people on dcum seem to have enough money to give or receive the annual exemption but not enough brains to google this for two minutes. It’s not complicated. If you had an “understanding” that they would have to pay tax on gifts over the annual exemption, it’s because you never made the slightest effort to learn about it. Two minutes is generous. 30 seconds would do. [/quote]
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