Can I give my son 250000 dollars for a down payment on a house without it being taxed ?

[xmasbaby0]

Yes, you can --- your son will not be taxed, nor will you be taxed on that money yourself but you will have to complete a gift tax form 709 ---you would only pay gift tax if you exceed the lifetime gift maximum of over $11 million.

GIFTS

Money that you receive as a gift is not taxable income to you, and you do not need to report it on your income tax return.  Money that you gave as a gift to someone else is not deductible for your taxes.

Turbo Tax does not support the gift tax form 709, but here is a link:

https://www.irs.gov/pub/irs-pdf/f709.pdf

https://turbotax.intuit.com/tax-tips/estates/the-gift-tax-made-simple/L5tGWVC8N

https://www.forbes.com/sites/ashleaebeling/2017/10/19/irs-announces-2018-estate-and-gift-tax-limits-...

[GeorgeDenseff]

Yes.  Neither you or your son has to pay tax on the gift.  You do need to fill out and file a gift tax form 709.

Form 709 has no effect on your tax return and is not filled out by TurboTax.  Here is the form and instructions.  It adds to your lifetime gift exclusion.

 https://www.irs.gov/pub/irs-pdf/f709.pdf

Instructions: Instructions