What is the best way of going about paying off a family member's mortgage without paying the additional 28% gift tax on my part or forcing them to claim it as additional wages on their part?

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Send 2 checks 1) Gift of $15k - tax free 2) Remainder of mortgage - they would have to claim it as a consulting fee on their W2s.

Might trigger audit?

Send 2 checks 1) Gift of $15k - tax free 2) Remainder of mortgage - they would have to claim it as a consulting fee on their W2s. Might trigger audit?

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[–] • 1 pt

Everyone in this thread is a retard and has no idea what they are talking about. You have an $11.7 million lifetime gift exclusion, you will not have to pay gift tax. This is on top of a 15k annual exclusion, doubled if you are married. If you are married filing jointly you can give 30k a year without touching the exclusion.

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