19 Hrs
Source:
The Boston Globe
_1777370193195_831968492.png&w=48&q=75){kind=small}
Bank of Mom and Dad: House Gifting Guide
As housing prices in Greater Boston rise, more parents are helping their adult children with down payments or purchasing homes, with gifts sometimes reaching up to $2 million. While this financial support assists many young buyers, tax professionals warn of potential tax consequences, including federal gift and estate taxes. Parents should consider the implications of gift limits and basis rules, especially as significant gifts may impact their own financial security.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)