Gift tax?

[orlsmc]

Hi,

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

 

[woods]

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

 

[orlsmc]

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

 

[CCOVICH]

Please don't duplicate posts.