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Get your taxes done using TurboTax
The payment of a loan (or a gift even) is not taxable to the payer. It doesn't go on your tax return in any way.
You can't deduct any interest as student loan interest because the lender was a family member.
Any paperwork required for financial reporting of a large wire transfer will be done by the banks. You don't need to do anything else.
‎July 8, 2020
11:21 AM