turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

If I gift money, $14,000>, to my fiance to put the down payment on our home, but I will be on the title of the home (just not the mortgage), will it be taxed as a gift?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
MinhT
Expert Alumni

If I gift money, $14,000>, to my fiance to put the down payment on our home, but I will be on the title of the home (just not the mortgage), will it be taxed as a gift?

Gifts are not deductible for the donor. They are not taxable for the recipient.

If your gift to your fiance exceeds $14,000 in 2017, you'll need to file a gift tax return (form 709). There is no tax to pay if the total of your gifts do not exceed your lifetime exclusion of $5.5 million.

Form 709 is not supported by Turbotax. You can download a copy of the form here:

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


**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies