Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I have read on numerous sites that you can have a family member OR your employer gift you money for closing costs. ( is one of them)

Does anyone know the rules for having your employer do such a thing? For example, I have been told by the places that I have been applying for mortgages that they will require a gift letter specifying that the gift from the employer is "no strings attached" and that I do not have to pay it back. Essentially, it works like a bonus.

So with either the case of a family member or an employer, will I or they have to include that amount in federal, state, local taxes?

If the employer gift does not show up on a W2 or some other form at the end of the year, wouldn't that be the way to go? (provider you have an employer willing to help you out like this)

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.