No. of Recommendations: 0
Bobbcat Date: 6/23/99 7:31 PM Number: 11491
I fairly certain (90%) that if you exceed $10,000 in a year, then you (the person giving the money) will owe gift taxes that year. Same rules apply to her, when she returns the money to you.

It's really a topic for the Tax Strategies Board. I know that under some circumstances it first reduces the estate tax exemption at your death, and only results in gitt taxes when that has been exhausted. But perhaps that doesn't apply in all circumstances - TMFTaxes would know for sure and may even have it in the FAQs.
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