Posted on: 08th Aug, 2009 05:57 pm
I have a question for you, if I buy a house for 100,000 and my uncle is willing to give $2,000 gift money to closing costs for me. It is my first time buyer , after closing, I could file an amended 2008 return, and get up to $8,000.00 back , When I get up to 8,000 back I will give my uncle what I owe him back. Will he get in trouble?
Thanks
Shawn
Thanks
Shawn
Nobody will get into trouble if you refund the $2k. However, his gift letter is essentially stating that repayment is not required.