Personal Investment & Financial Planning Q`s/gift questions


I am talking with my aunt and uncle regarding a possible gift to use as a down payment for my move up house.  I am trying to understand the federal gift tax regulations regarding that.  I understand about the $14,000 gift tax free limit per donor.  My question is how should the mechanics work specifically if receiving a gift from both my aunt and uncle separately?  Do I need 2 separate gift letters?  Do the funds needs to come from separate accounts with only the Aunts name and only the Uncle’s name or can they can come the same joint account?  Is it important that they process this as 2 separate transactions of $14k each?

John I am sorry for the delay we were away and had no internet of cell service.

Happy New Year

Just to keep it clear you can have each of them sign a separate check for $14k so you get the full $28k like that.

Without going into too much detail, if they are not subject to state estate/inheritance or Federal estate taxes when they pass away, the $14k limit is kind of irrelevant, except tfor the simple informational return you send in for the year of the overage

Good luck John


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Bruce Julien


I can answer questions on and raise issues clients overlook in the areas of Estate Planning as far as taxes and distribution flow problems, Asset Management as far as appropriateness of assets and allocations for a desired goal and the value a consumer gets for their costs, Tax Planning related to Income and Estates, and Insurance/Annuity questions particularly in light of suitability to the consumer.


I became a CPA in 1991 and began offering financial advice in 1992. I am a Registered Investment Advisor which means I sign off on putting clients' interests first in a fiduciary role.

BA in Accounting, University of Maryland 1990

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