Give $$$ to Brother to lower EFC

yonessdog
Sun, 06 Mar 2011 14:36:22 +0000

ok, i get it. this explains it a bit. the irs would not consider this a ‘gift’.

[Tax Questions - gift tax vs. loan - JustAnswer](http://www.justanswer.com/tax/03xjn-gift-tax-vs-loan.html)

the IRS may pursuant to IRC Sec. 7872 recharacterize your loan as a “gift loan” or a “tax-avoidence loan” and consequently impute interest income to you and a concurrent gift of the interest income back…

i will sleep better at night, knowing that i did not ‘hide’ any money through this scheme.