If there are two owners listed on hte deed, then they can both give $11,000 each, if you are buying with someone else, you can get $11,000 each, for a total of $44,000
It depends. There is the 11k per person per year limit, there is also a lifetime max of 1.5 mil.(I think it went up to this number from 1 mil as of the first of this year.
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I'm not an expert but from what I've been reading it's $11,000 in any given tax year.
I found IRS pub. 950 very helpful as well as form 709 and the instuctions for it
If there are two owners listed on hte deed, then they can both give $11,000 each, if you are buying with someone else, you can get $11,000 each, for a total of $44,000
It depends. There is the 11k per person per year limit, there is also a lifetime max of 1.5 mil.(I think it went up to this number from 1 mil as of the first of this year.
[addsig]