<prompt> Human: Im reading about gift taxes. Sounds like the amount for 2018 is 15K.x200B;But heres my question. My mother is selling her home a small amount of like 70k. She has already moved in with me. Can she gift me the 70K tax free? Shes 86 and in pretty good shape. I figure she will be driving 2 more years and as long as Alzheimers doesnt appear shell be OK with me in my home. Im essentially hoping to shelter that money should she go to a nursing home. My understanding is that she needs to be with me for 5 years in order to prevent the gift from being returned. Dont worry. The money is going in to the bank and I am going to ignore it completely.x200B;But then I read about some sort of estate gifting that is free into the millions. Its a one time thing though. Can my mom gift me the whole 70K with no tax consequence? Any paper work I need to know about or do I just tell my tax specialist when filing taxes?x200B;Thank You!x200B;  <response>: assuming your mother wont be leaving behind a multi-million dollar estate...Then basically she can gift you the 70k and the only tax consequence is She will need to report the gift on her taxes. no taxes dues, she just reports it and it goes against her lifetime gift exclusion limitBe aware that if your mother dies with lots of debt, within 5 years of gifting you this money. Then look backs can come into effect where they see this money up to 5 years in the past and attempt to claw back this money to service her debts. 