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+1 - If OP's concern was taxes, not getting the money back, this answer is perfect. It avoids ongoing tracking and interest payment concerns. The only thing I could add. If OP has a spouse, there is $14K x 4 = $56K total that can be gifted each year with no paperwork.

JoeTaxpayer
– JoeTaxpayer ♦

2017-01-29 17:13:19 +00:00
Commented Jan 29, 2017 at 17:13
@JoeTaxpayer Thanks. I have incorporated the spouse making gifts idea into my answer.

Dilip Sarwate
– Dilip Sarwate

2017-01-29 20:05:27 +00:00
Commented Jan 29, 2017 at 20:05

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