Question: My father is suffering from dementia. As a result, I must cash his monthly social security check and use the proceeds for his care. What are the resulting tax consequences?
Your father’s social security benefits are not taxable to you; however, in determining whether your father is your dependent, you should consider the benefits used for your father’s support as support provided by your parent.
See Publication 501, Exemptions, Standard Deduction, and Filing Information, for additional information.
Category: IRS Procedures
Subcategory: For Caregivers