@NCperson I do not worry the bank transaction, too. Because the bank has to report those over $10,000. So it is what it was.
You mentioned transaction here, do I have to transfer money to my daughter's bank account or I can just use my account pay off the car at dealer. Say if the car is $40,000, then $32,000 out of this $40,000 is gift from my husband and I and no gift reporting required. Then we only need to sign a $8000 loan agreement.
This year because my daughter is still in school, we paid her food and room and some other living expense, will those cost be counted as gift?
