From a federal tax perspective, you are allowed to contribute up to $ 14,000 annually without incurring gift tax consequences. (financialducksinarow.com)
Also, the federal government allows single individuals to contribute as much as $ 14,000 per year or $ 70,000 for five years and avoid gift tax consequences. (thecollegeinvestor.com)
Otherwise, if it's a legitimate gift (no expectation of getting anything back) this idea may work — but don't forget about potential gift tax consequences. (fairmark.com)