Gift tax?

O

orlsmc

Guest

• 28 Nov 2006

• #1

Hi,

I am getting a gift of 30k from my parents for a deposit for a house, will I be subject to gift tax?

 

W

woods

Registered User

Messages

782

• 28 Nov 2006

• #2

No
Your parents can give you almost 500K without tax liability

 

O

orlsmc

Guest

• 28 Nov 2006

• #3

cheers! That's what I'd thought... I presume it's just deducted from my allowance of inheritance?

 

C

CCOVICH

Registered User

Messages

8,827

• 29 Nov 2006

• #4

Please don't duplicate posts.