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@slamny wrote:

How about, can I create a loan agreement and lend her the money with Zero interest for the first three months and charging 5% interest if she cannot repay me back after three months, instead of filing the Gift Tax Return? And, if she pay me back within the three months, then I don't have to do any on my or her tax return?


I don't know if you can actually avoid the requirement of imputed interest that way.  You should talk to a professional tax advisor if you want to make this more complicated than it needs to be. 

https://turbotax.intuit.com/tax-tips/tax-payments/irs-tax-rules-for-imputed-interest/L7UbulHpC