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<<<but if you own the house and your parents live ther without paying rent (or below free market rent), consider whether there is potential gift tax issue lurking in the weeds.>>>

"Hadn't thought of that, but seem to have an answer here.

As long as the rent is below the gift tax exclusion, it seems we are good. So DW & I could combine are $14k gift to make it $28k, I think that is more than that rent this place could command. Push comes to shove, $28k to dad and $28k to mom makes for $56k total, plenty of breathing room."

I agree that as long as you are married and both you parents are alive, then 14k * 4 is a lot of free rent, but do not ignore other gifts you might make during the year, and it potentially changes if you are no longer married or you have only one surviving parent.

Good Luck.

Regards, JAFO
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