Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited.

gift is taxable but is “loan” or “debt” taxable?
If you are looking to transfer money to another person in the US, you can do do with no tax consequence.  The current annual gift limit is $14k per year per person, so for example, my wife and I can gift $56k to another couple with no tax and no forms. For larger amounts, there is a lifetime exclusion that taps into your $5M+ estate tax. It requires submitting a form 709, but just paperwork, no tax would be due. This is the simplest way to gift a large sum and not have any convoluted tracking or structured loan with annual forgiveness. One form and done. (If the sum is well over $5M you should consider a professional to guide you, not a Q&A board)