To follow up this question.
If I don't report to IRS that this is to repay a loan, how do they know that?
According to the gift rule, only 15000 is allowed annually.
If I transfer to my parents with 100,000 yet not file the gift return, are they going to find trouble with me as they are aware of this transfer yet not aware that it is to repay a loan.
BTW, if my parents ( not US person) has US bank account (open remotely) , can I transfer to their US bank account to repay?
Thanks.
