You are here:

Tax Law (Questions About Taxes)/gift for down payment on mortgage


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?


Thanks for your question.

I presume your aunt and uncle are married to each other.  If this is the case, they can simply give you one combined gift  Under the gift splitting rules, if a husband and wife elect, they can treat a gift as coming equally from both of them.  I would add, however, that when gift-splitting is chosen, they must file a Form 709 in order to formalize the election.  If the gift does not exceed the $28,000 no tax would be due.

Hope this helps.

John Stancil, CPA  

Tax Law (Questions About Taxes)

All Answers

Answers by Expert:

Ask Experts


John Stancil, CPA


I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I am Professor Emeritus at Florida Southern College. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a CPA practice, specializing in tax, for over 35 years. I am a member of the National Association of Tax Professionals, The Florida Insititute of CPA's, The NCPE Fellowship. In addition I am a Certified Mentor for SCORE. Visit my website at I also offer seminars and consultations to churches and clergy on their tax issues at Also visit my blog, I am listed on Tax Connections at Prepare and file your own taxes at


I hold a doctorate in Accounting, and am a CPA. My certifications of CIA, CFM, and CMA are inactive. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I have operated a CPA firm for over 37 years and have taught accounting and tax at the college level for over 35 years.

FICPA, NATP, NCPE Fellowship, Lakeland Business Leaders

The CPA Journal, Florida CPA Today, Green Consumer, Green Business, Global Sustainability as a Business Imperative, Palmetto Review, NATP TaxPro Quarterly, Mustang Journal of Finance and Accounting.

DBA University of Memphis MBA University of Georgia BS in Accounting Mars Hill University

©2017 All rights reserved.

[an error occurred while processing this directive]