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Brown Cafe UPS Forum
Life After Brown
Advice Needed
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 933635" data-attributes="member: 12570"><p>Cheryl, thanks for your input. This is not really a gift--the money would be going directly to their mortgage and I would basically be prepaying my rent. The IRS does allow for direct payments for indirect benefits in excess of the annual gift limit. The townhouse that they are buying is one of four in the complex and their hope is to eventually own all four. </p><p></p><p>We would need to sit down with a professional to see if this is even legal and, if it is, what would be the best way to go about it.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 933635, member: 12570"] Cheryl, thanks for your input. This is not really a gift--the money would be going directly to their mortgage and I would basically be prepaying my rent. The IRS does allow for direct payments for indirect benefits in excess of the annual gift limit. The townhouse that they are buying is one of four in the complex and their hope is to eventually own all four. We would need to sit down with a professional to see if this is even legal and, if it is, what would be the best way to go about it. [/QUOTE]
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