With remax folder video podcast today we have GT / Lang Berger who is an attorney an affiliate to us remix the boulder helps our clients out a lot Jeana thanks for being here today happy our topic today Jean has been getting a lot of calls lately every topic so we thought we'd better share some thoughts about it and it's about gift taxes I understand you getting a few Franti calls from folks that have gifted some money maybe for down payment to their children and are a little nervous about that's right that's right so you know how expensive real estate in Boulder I've heard that and so a lot of times parents will gift kids the money for a down payment kids can take on the monthly payments but saving up for that down payment can be hard right and then I get phone cost well gosh I promised my kid I would give him the money for the down payment and now I'm reading if it's over a certain amount that I have to be taxes on it and I didn't realize that this was the case what's up and usually you don't have to pay gift taxes on a transfer so that's what I really want to clarify and I know you probably realize all the time who are trying to do this sure they're trying to write helping their kids for down payment or asking the parents okay and so in my mind it's what like 14,000 that can be gifted without a problem so like if a parent wants to give fifty thousand for a down payment what happens in that case right so so let's tease out the details of the gift taxes okay so the tax code distinguishes between non-taxable...
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