Home Down Payment Gift Tax Calculator
Parents and family members often help with down payments. Enter the gift amount and number of givers to see how much is covered by the annual exclusion and how much may need to be reported to the IRS.
About this calculator
Estimate whether a cash gift toward a home down payment exceeds the annual gift tax exclusion and how much would count against your lifetime exemption.
Frequently Asked Questions
Do I owe tax immediately if I exceed the annual exclusion?
Not usually. Amounts above the annual exclusion typically just reduce your lifetime estate and gift tax exemption and require filing Form 709, rather than triggering immediate tax.
Can multiple people gift the same recipient to increase the exclusion?
Yes, each individual giver has their own annual exclusion per recipient, so a married couple gifting one recipient effectively doubles the tax-free amount.
Does this calculator file my taxes for me?
No, this tool only provides an estimate for planning purposes. Consult a tax professional for your specific situation.