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For Caregivers

Question: I care for my parents in my home. My parents occasionally give me money to pay for their share of household expenses. Is this money taxable to me?

Answer:

An amount of money that your parents give you to offset their expenses is not taxable to you.  This amount is treated as support provided by your parents in determining whether your parents are your dependents.

See Publication 501, Exemptions, Standard Deduction, and Filing Information.


Category: IRS Procedures
Subcategory: For Caregivers

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The OMB number for this study is 1545-1432.
If you have any comments regarding this study, please write to:
IRS, Tax Products Coordinating Committee
SE:W:CAR:MP:T:T:SP
1111 Constitution Avenue NW
Washington, DC 20224