I purchased a home several years ago with my own money as down payment and I was the sole name on the mortgage. My fiance and I recently sold that home for a good profit, moved state, and purchased a new home (the state is now Arizona, if that info is needed.) Because I didn't have a job when we moved, our new mortgage is now solely in my fiance's name. The money used for down payment was from the sale of my house and the agent had me fill out a gift letter for the amount being "given" towards the house.
I guess I'm just not sure what my taxes are going to look like this year. Will I be taxed on the amount of the gift over $15,000 even though it went to purchasing our house? Is there a way for me to avoid that?
