Let's say I want to transfer $20,000 as a gift to my fiancée. After a few months (within the same year) she returns the money back to me, with no interest, as we agreed beforehand.
Does this imply that any of the following statements are true?
- I have to pay a gift tax when I give these money to her.
- She has to pay a gift tax when she returns these money to me.
- These money can be considered as her income.
- This can be considered interest-free loan.