Quote:
Originally Posted by Bugsinrugs
My oldest son lent his younger brother $50,000 to pay off some of his student loans. At the time I didn’t have access to the cash but I do now. I don’t want money to ever become an issue between them so I’m going give him back his 50K. My question is how do I do this so there is no tax issues on his end. There must be a way to do this so the government doesn’t come calling. Thanks in advance.
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You’re going to give the older son $50k?
Doesn’t that still make money an issue between them?
At the end, younger brother will have netted $50k, older brother $0. You will have given a $50k gift to the younger, and nothing to the older.