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URL:  http://boards.fool.com/the-mortgage-broker-said-this-quotgiftquot-15893598.aspx

Subject:  Re: Capital Gaines on sale of house Date:  10/9/2001  5:19 PM
Author:  jcopenhaver Number:  54488 of 121315


The mortgage broker said this "gift" was for $5,700.00... So it doesn't sound like I have to worry about paying any kind of gift tax... I stand to clear about $20,000.00, so I'm well under any of the big limits. Is this exclusion from gains a one time shot if you are under the limit (assuming you meet the residency requirements mentioned in the other posts)?

Please let me know!

Thanks-

Jim C.
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