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Reply to "Question for those of you whose parents helped with a home purchase"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]If I won the lottery tomorrow, I would give kids and relatives I love and who I know could use it some money. Why is it different in this situation? OP, I also come from a culture in which it is the norm (but certainly not a must) to give money when married and for other occasions...good luck with the house![/quote] At 35% gift tax for anything over $14,000 and you pay the tax[/quote] OP said the amount is like pocket change to inlaws, so I guess they would be fine. They can do what they want and give their money to whom ever they choose.[/quote]
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