If you consider the transactions as gifts, then each person will have to file a gift tax return for tax year 2022 as the amount of the gift exceeds the gift tax exclusion of $16,000 for tax year 2022. The wo gifts do not cancel each other out.
However, if you consider that Individual A made a private loan of $100,000 to Individual B, then a week later Individual B repays the loan to Individual A, then there is nothing to report (if there is no interest paid/received).
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