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My boyfriend and I bought a house over the summer and received money as a gift to help with down payment. His mom gave $10000 and my dad gave $14000. we later received a $5000 house warming gift from his grandparents. will we be taxed on receiving these gifts?

Ben Miller
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user64830
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  • In the US, gift givers may be subject to tax, not gift receivers. And $14K is the limit for one individual to another, so they should be fine. – D Stanley Nov 17 '17 at 15:43
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    As a side note, make sure that both of you are on the title and mortgage, and that there's an agreement in writing as to how much of the house each of you owns. There are many questions dealing with breakup situations with a shared house involved. – D Stanley Nov 17 '17 at 15:45
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    You'd better be getting them all some nice Christmas/Hanukkah/Eid/whatever gifts ;) – CactusCake Nov 17 '17 at 16:03
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    Which country are you in? – Ben Miller Nov 17 '17 at 16:25

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