if it is to be paid back it's a loan not a gift. it doesn't really matter to you. nothing to report on your return. the amount is below the threshold requiring intertest. so, if no interest is being paid there is no reporting for either party. if interest is paid, to you it's income. but your son cannot deduct the interest payment unless these three items are true:
1) there's a signed document making the home security for the dept.
2) the instrument provides in the case of default the home could satisfy the debt
3) it's recorded or perfected under the laws
