Home Buying in 07044>Question Details

IW625BRENDA, Home Buyer in Mililani, HI

why does it "depends" when it comes to gift tax?

Asked by IW625BRENDA, Mililani, HI Sat Jan 25, 2014

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2
Questions regarding tax matters should be addressed by an accountant - real estate agents can't give tax advice or legal advice.
0 votes Thank Flag Link Sun Sep 28, 2014
What is your specific reference to the gift tax? For a downpayment on a home? Gift tax depends 'form and substance.' Who is giving it and if it is reportable. If you can provide more info, I could be of more help and guidance. However, an accountant, of course, would be the go-to authority for your specific situation in the end.

Sandra Bolcar
Broker Associate
201-247-5768
sandra@thebolcarteam.com
0 votes Thank Flag Link Sat Jan 25, 2014
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