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Life After Brown
Advice Needed
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<blockquote data-quote="pickup" data-source="post: 933294"><p>upstate, I read your original post, you stated "to give them 80k" in that post. </p><p> </p><p>Wouldn't that be considered rental income for them? Would the money flow from you to them be in one shot and hence raise a red flag ? Or could you just give them 11,000 k each, a year as a gift, so that it won't be taxed?</p><p>(By the way, if a child is produced by them in one of those years, that is another potential recipient of 11,000 k , so that you can get them that 80,000k a bit quicker .)</p><p> </p><p>Or take an equity position in the house, and have them buy it back from you, piece by piece??</p><p></p><p>I only brought this up because while it is true that your sale of your 90k townhouse causes no tax implications for you, the way you give them the 80k might cause tax implications for them.</p><p></p><p>I am not sure what you are trying to exactly do in this situation, so my concerns may be unwarranted and hence, my suggestions may not be a good fit for your situation.</p></blockquote><p></p>
[QUOTE="pickup, post: 933294"] upstate, I read your original post, you stated "to give them 80k" in that post. Wouldn't that be considered rental income for them? Would the money flow from you to them be in one shot and hence raise a red flag ? Or could you just give them 11,000 k each, a year as a gift, so that it won't be taxed? (By the way, if a child is produced by them in one of those years, that is another potential recipient of 11,000 k , so that you can get them that 80,000k a bit quicker .) Or take an equity position in the house, and have them buy it back from you, piece by piece?? I only brought this up because while it is true that your sale of your 90k townhouse causes no tax implications for you, the way you give them the 80k might cause tax implications for them. I am not sure what you are trying to exactly do in this situation, so my concerns may be unwarranted and hence, my suggestions may not be a good fit for your situation. [/QUOTE]
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