I've been transferring money to my fiance's account to help her pay her student loans. I just realized that I went past my yearly gift tax allowance for her ($14,000 for 2013) by $3,000. I realize I'll need to state this in my taxes for next April.
Unfortunately, she has a few more loans that I'd like to help her pay off. I don't want to create more gift tax by transferring her more money this year. However, if I write a check to both of her parents for $8,000 each. Then both of her parents write her (their daughter/my fiance) a check for the same amount. This would give my fiance a total of $16,000. Will I or anyone involved (my fiance or her parents) be taxed or incur any fees for doing this?
Also, by writing a check to her parents, which then write a check of the same amount to her will I still only need to report the $3,000 I went over for gift tax or will the amount be higher?
I'm not getting married till next year and we would like to pay off her student loans before they accrue any more interest. I'd write a check to the loan company if I could, but they only accept payment through my fiance's bank account.