<prompt> Human: My husband and I are moving an elderly family member in with us to provide him with care and companionship. He has offered to contribute the sale of his home 170K towards our mortgage 310K. My Husband thinks it best to simply charge him rent over time. We are unsure how to accomplish this and what would be the best course of action for all parties. Assistant: Take it as a gift and drop it on your mortgage. You wont be taxed on it like you would rent and you save the interest youd be paying on the 170k over time. Human: I didnt know that you could take a gift as un-taxable at that amount. How is this done?  <response>: Someone can gift you about 14ky without filing any tax forms.If they gift more than that, they have to start filling out tax forms with the IRS, so the IRS can track the total amount given.If those overage amounts go over 5 mil, then the giver starts needing to worry about actually having to pay some amount in taxes based on the gifts.This is all related to single givers. If someone is married, their spouse can separately give you another equal amount, so you can double all those numbers in that case.It also assumes you are a single recipient. If that person gives individually to you and your significant other, they can also double those numbers.If both you and they are not single, thats 4x the amounts given before anyone starts having to pay tax.As a gift recipient, you never need to worry about taxes on gifted amounts. 