- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Yes, it can be considered as a gift if that is agreed on. 700 a month is well below the annual limit on unreported gifts.
Also the 700 per month needn't be considered as part of the mortgage payments nor part of the property tax payment unless you want it to be and/or your mother directly makes those payments.
Additionally, you and your mother can agree on a 700 contribution without it being considered as rent or as mortgage or tax payments.
I'm sure that there are utilities and food expenses.
How you handle your mother's contributions to the household is really up to you and you mother.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
March 4, 2023
5:09 PM