Hi All - Hope I can get some help with the following scenario...Parents want to provide a gift of approx 250k to their child (Child is married with a child of their own). This will be done in the form of a lump sum check. For tax purposes, which of the following makes sense (and is legit)?1. Structure as a Gift, use the 13k exemption to reduce the overall gift value, but still report on taxes (whose?). Since this is below the lifetime giving limit, there should be no tax liability (?)Pro: Simple - one time transaction.Con: Possible tax liability.2. Structure as a Loan, paying market interest, that is partially forgiven each each in the value of the gift exemption (currently 13k). Loan will be at Market rate, interest payable annually.Pro: No tax liability (as its a loan). Some interest income for the parents.Con: Additional paperwork. Must pay interest back to parents annually until loan is fully forgiven.Would love to hear any advice or comments, especially from people who have gone through a situation like this.Thx
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