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So, as previously discussed, I "gave" some money to my daughter as an early inheritance that was used to help her purchase a home. I filed a 709 for this and all seemed well until today when I received an "adjustment" by the IRS and a significant tax bill for money (that I already paid taxes on). No explanation, just that they "corrected" and "adjusted" my form.

Of course, got this letter this afternoon after 5 pm, so haven't been able to call to get details. Not panicked, but trying to understand what I did wrong or what they may be misinterpreting. Trying to "arm" myself for when I call. Looking for any thoughts or comments.

One thing that crossed my mind: Because she was buying a house, she wanted to use the money for the down payment. Her loan officer required me to sign that I was giving the money for the house. She was free to do whatever she wanted with it, but wondered if this was part of the issue.

Curious as to possible errors to deal with this,

Thanks!

SnowThunder
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