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Parents want to gift cash for house purchase
Parents want to gift cash for house purchase I currently live in a house (alone) that’s worth $500k. Want to buy a $700k house that my parents would move into with me. My parents want to cover the $200k difference that I will need to afford this new house. What is the best way for them to give me the $200k? Can they simply write me a check? Will this count as income for me when I do taxes?...
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