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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[–] • 2 pts

No idea what you're talking about.

But I've talked to you before, and you seem like a nice, charitable guy.

You ever thought about setting up a 501c3 Not-for-profit to benefit local homeowners struggling in this unprecedented era of inflation and housing insecurity?

Might be something to look into.

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