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Retirement tax questions
Thanks NCPerson.
The bigger picture is to ensure she has Healthcare coverage from the marketplace. She does have Dividend income from her Fixed Deposits (Instruments like CD's in India) which amounts to more than $4400. I am working on figuring out how much it is. She does intend to pay us rent for living with us in the basement apartment.
If her income is less than the poverty limit, she should be able to make it up in the household chores that she helps with. This is what i am trying to verify.
For the latter, if we have to pay her, it looks like we should not need to generate a W-2, as long as we stay below a certain limit.
I will keep this as the only thread for the question going forward.
‎July 7, 2023
7:37 AM