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Get your taxes done using TurboTax
There are a couple of ways to approach this that depend on your total family tax situation.
They can each give you a gift of up to $14,000 a year and there is no reporting required. You have no income to be taxed and earn no Self-employment (Medicare and Social Security) credit. They would not be able deduct any of those funds on their taxes.
Your could report it as Self-employed income on Schedule C. Expenses that you incur are deductible also on your Schedule C.
They can take some or all of the expense as a medical deduction on their Schedule A. Money they pay you for food, and personal care items would not be a medical expense to them.
May 31, 2019
7:12 PM