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I am looking to buy my grandmother's house.  The house is worth about 150,000. I would be buying the house for 60,000.  I have been trying to find information on how much equity I can receive without being taxed. I have been looking and I think it is up to 14,000 but it changes if you have kids. Would I be allowed to have more equity gifted since I have two children or is there even a limit on how much I can be gifted in a house without being taxed.