ST Alpha - "Okay I just don't want him (or me) getting screwed and having to pay a penalty something. " (Reading a Post)

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In response to "My understanding of gift taxes is that your understanding is correct. -- (edited)" by znufrii

Okay I just don't want him (or me) getting screwed and having to pay a penalty something.

Posted by sycor May 27 '22, 15:21

I know I could always ask him to co-sign and make the down payment that way, but I also don't want the affect him being able to buy a house up here and being able to move closer sooner. Since I know they may look twice if he is already listing on another house with a mortgage. Of course with the sale of his house his plan is to buy a house outright, but the timing and everything would be much more stressful than just buying a house, selling his, and then paying off the new one.

Responses:

Thank you for the house. -- nm - Taxman May 27, 16:08 1
- ~be thankful I don't take it all~♪ -- nm - george H May 27, 16:19

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Okay I just don't want him (or me) getting screwed and having to pay a penalty something.

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