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Rules for Down Payment - Gift $$$

Friday, March 8, 2013   /   by Dana Rusnak

Rules for Down Payment - Gift $$$

As of Jan. 1, everyone can gift (tax-free to everyone) up to $14,000 per year. That means your parents can gift you up to $28,000 toward the value of the property. If you are married, and your husband will go on title with you, this number can be increased to $56,000.

The Deborah ("Debbie") Renna-Hynes Team EXP Realty
Deborah Renna-Hynes
590 Titus Ave
Rochester, NY 14617

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