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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?

(post is archived)

[–] 1 pt

How are you triggering a gift tax? You can gift $16k a year per spouse per recipient without even needing to file paperwork. Above that it counts towards your lifetime gift limit which is in the 8 figures before it becomes taxable for anyone.

It's not wages, it's a gift.