Re: off-topic tax question

Posted by Drew (24.59.27.46) on January 04, 2004 at 00:03:08:

In Reply to: off-topic tax question posted by sal on January 03, 2004 at 22:50:15:

You need to find out how long you have before you are required to claim the gift on your taxes and pay taxes on it. If you have a couple of years, like the rollover proceeds from sale of house which you can rollover into another house, you might wait about six months before buying and closing on a house and put the amount in a CD so you will earn anough to pay for the required downpayment and still pay the taxes.

Just a thought.

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