gift consequences

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  • Got2csun
    Junior Member
    • Dec 2007
    • 26

    #1

    gift consequences

    T/P receives 90k from dad and mom to pay for 60% of condo cost. Does she have any tax consequences because of this gift? dad and mom are not part owners; they provided a "gift letter" to mortgage company. t/p has mortgage for remainder of cost.
  • Kram BergGold
    Senior Member
    • Jun 2006
    • 2112

    #2
    no consequences

    Gifts are non tax events to the donee.

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