My older son is receiving a distribution from a qualified trust. He thinks it is unfair my younger son is getting nothing, and wants to split it with him. The final figure is much higher than I expected; yearly gifts of $14,000 will take a while.
Younger son has a 3 semesters left of college. Can older son pay for it (directly to the college) without affecting the $14,000 a year tax free gift? That is what I have read, but about half the info on the internet is wrong; so I wanted to confirm it.
Would older son get any tax benefit for that, or does it stay with me regardless?