Parents who want to give their kids a great gift should consider making a down payment on a house.
According to the Internal Revenue Service, a married couple can give gifts of $13,000 each, money or property, without requiring taxes of the giver or receiver. A married couple can give another married couple a total of $52,000 a year, if each member of the giving couple gives $13,000 to each of the receiving couple. This could be a healthy down payment!
Source: The Wall Street Journal, June Fletcher (11/27/2009)
