If I give my daughter $57K for her mortgage down payment and closing costs, will I owe taxes on the gift?

Asked Aug 29 '13 at 22:18

Active Aug 29 '13 at 22:41

Viewed 475 times

My daughter lives in Florida. I would like to give her $57K of my savings to cover her mortgage down payment and closing costs. I live in Puerto Rico. Will I have to pay income tax on this transaction in the US?

edited Aug 29 '13 at 22:34

John Bensin

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asked Aug 29 '13 at 22:18

Victor M. Rodriguez

If I give my daughter $57K for her mortgage down payment and closing costs, will I owe taxes on the gift?

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