When verifying gift funds for a down payment, which documentation is typically NOT required?
Correct Answer
D) Tax returns from the gift recipient for the past two years
Gift fund documentation requires a gift letter, proof of donor's ability to give, and evidence of transfer. The recipient's tax returns are not specifically required for gift fund verification, though they may be needed for other qualification purposes.
Why This Is the Correct Answer
Gift fund documentation requires a gift letter, proof of donor's ability to give, and evidence of transfer. The recipient's tax returns are not specifically required for gift fund verification, though they may be needed for other qualification purposes.
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