With remax folder video podcast today, we have GT / Lang Berger, who is an attorney and affiliate to us at Remix the Boulder. He 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're getting a few frantic calls from folks that have gifted some money, maybe for a down payment to their children, and are a little nervous about it. That's right, that's right. So, you know how expensive real estate is 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 calls like, "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 taxed 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 hear this all the time with people 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 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, let's tease out the details of the gift taxes, okay? So, the tax code...
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