Give $$$ to Brother to lower EFC

yonessdog
Sun, 06 Mar 2011 14:04:18 +0000

(1) Hello, can I give a $12,000 gift to my brother to lower the amount of money that I have in my bank account, and thus, lower my EFC?

(2) If so, does my brother have to report this as income (that he needs to pay taxes on)?