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Greetings fellow Fools!

We are helping our son purchase a home and are giving him $75,000 to be used as a down payment. Obviously, this exceeds the annual gift exclusion allowed by the IRS. It is my understanding that I can "apply" the amount towards his lifetime estate amount and avoid taxes. However, I am struggling to find the proper forms. So asking for help in clarifying my understanding and finding the proper approach. Perhaps I am mistaken that there is a way to apply to estate totals. Want to make sure I know the best approach and record the transaction appropriately to stay within the rules and avoid issues with IRS.

I found some information on GSTT but that does not seem to apply.

We are writing a letter to define the down as a gift for the mortgage people.

Thank you for any thoughts and help.

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