Accountants and CPA: please help with my one question.?

So here is my story. My aunt borrowed $900,000 from me and she wants to pay back $200,000 out of it. However, I did not receive any interests from the loan. And we are going to write a loan note stating that I did not receive any interests for the past 4 years she borrowed the money. Also, I have already paid taxes... show more So here is my story. My aunt borrowed $900,000 from me and she wants to pay back $200,000 out of it. However, I did not receive any interests from the loan. And we are going to write a loan note stating that I did not receive any interests for the past 4 years she borrowed the money. Also, I have already paid taxes on this $900,000 so I just don't want to get screwed up by paying again.

1. Is there anything else I need to tell IRS?

2. Also, let's say I recieve the money in May/2014. Do I have to notify the IRS May 2014 or when I do 2014 taxes in Jan/2015?

3. Do I actually have to notify the IRS at all? If I do, what paper works should I prepare?
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