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pinklibra75 Joined: 17 Dec 2009 Posts: 1 1.34 Dollars($)	Posted: Thu Dec 17, 2009 4:56 pm    Post subject: Hi Like 0 Dislike 0 Can someone please help me, I need to know how many family members can I except a gift from to come up with the 60K down payment of a house that I am buying. Please help.... Thanks, M
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12346 Location: bloomfield, ct 53.01 Dollars($)	Posted: Thu Dec 17, 2009 9:41 pm    Post subject: Like 0 Dislike 0 all 23 _________________ George M. Akerley Independent Contractor - Mortgage Consultant Word of Excellence Editing/Writing/Proofreading 860-221-5044
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12346 Location: bloomfield, ct 53.01 Dollars($)	Posted: Thu Dec 17, 2009 9:43 pm    Post subject: Like 0 Dislike 0 sorry...it's late and i wanted to laugh and there's nobody else awake here to help with that. okay..honestly...there's no finite number of gift donors you can acquire funds from, but don't try to get your third cousins or your aunt's cousin's brother's mother-in-law; keep it close. if you do present a lot, you'll drive your lender slightly crazy. you may want to do that anyway, and it probably wouldn't take much, either. _________________ George M. Akerley Independent Contractor - Mortgage Consultant Word of Excellence Editing/Writing/Proofreading 860-221-5044
pinklibra75@yahoo.com Guest	Posted: Thu Dec 17, 2009 10:10 pm    Post subject: Hi Like 0 Dislike 0 Thank you ! If one person give me 50K than do they have to file taxes. I guess its better to get gift from 5 family member. Please let me know... thanks,
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12346 Location: bloomfield, ct 53.01 Dollars($)	Posted: Thu Dec 17, 2009 10:16 pm    Post subject: Like 0 Dislike 0 yes indeed - gifts are only allowable if they are from family members or someone who is demonstrably close to you but not family (a godparent would fit that bill, as would a fiance). i think a 50K gift would be problematic if it comes from one party - taxwise, as you noted, but i don't know the details of the tax ramifications. _________________ George M. Akerley Independent Contractor - Mortgage Consultant Word of Excellence Editing/Writing/Proofreading 860-221-5044

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