Not an accountant.
If everyone involved is a US citizen, this year's gift tax exemption is $17000 per recipient. That means you can give up to $34K written as $17K checks to each parent with no fuss.
If everyone involved is a US citizen, this year's gift tax exemption is $17000 per recipient. That means you can give up to $34K written as $17K checks to each parent with no fuss.