L
leeddl
Guest
i live in new jersey and my mother wishes to give me a gift of my first home. since the deed will be under my name, we run into the problem of her giving me a "gift" of $180k (asking price of home). after reading this site, it's my understanding that since it's higher than the $10k non-taxable gift amount, she can still avoid paying any taxes due to the unified credit on large gifts ($170k after the 10k). if so, can she simply write me a check and file the appropriate forms next april and be done? it just sounds too simple to be true...thanks for any response.