How do I report my income when I take care of my p...
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

How do I report my income when I take care of my parents in their home in exchange for rent and grocery money?

 
2 Replies
Level 15

How do I report my income when I take care of my parents in their home in exchange for rent and grocery money?

This can be considered a gift otherwise it is reported as self employment on a Sch C. Upgrade to the self-employed version to enter in your self-employment and expenses.
Level 14

How do I report my income when I take care of my parents in their home in exchange for rent and grocery money?

If you are living in your parents' home rent-free and the only money they are giving you is for groceries, there is no "income" for you to report.   If this is your situation, then your parents are "gifting" you your living space.  Since you are not receiving income or profit, Schedule C does not apply.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.**

Dynamic Ads
v
Privacy Settings