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Jan 29, 2017 at 20:05 comment added Dilip Sarwate @JoeTaxpayer Thanks. I have incorporated the spouse making gifts idea into my answer.
Jan 29, 2017 at 20:02 history edited Dilip Sarwate CC BY-SA 3.0
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Jan 29, 2017 at 17:13 comment added JTP - Apologise to Monica +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.
Jan 28, 2017 at 21:22 history answered Dilip Sarwate CC BY-SA 3.0