<prompt> Human: I know this well exceeds the IRS contribution limit. My naive thought was to form an LLC where the three of us are partners, so we could all put in money. Is that a good idea?Would the situation improve if we got married before buying the house?  <response>: If you are referring to the 14k annual limit for a gifting, it is really not a concern because anything in excess of that can be applied toward the mom lifetime exclusion of 5.4Million. So basically no tax implications for either you or the mom. 