I am using the amount "gifted" as part of my down payment on the loan. The bank said the purchase price would say $225,000 with a gift of equity of $36,000 and an actual loan amount of $189,000. Does this change anything? Will my parents still use the same process (gift of $14,000 from each parent and the difference on the form 709, with no taxes to be paid on either)? Or will the $36,000 be taxed and considered anything other than a gift?
