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axel-2017
New Member

What exactly is living expenses? I love with my parents rent free but I pay for my stuff what I need and then some

What exactly is living expenses i live with my parents rent free but I pay for my stuff what I need and then some
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2 Replies
Carl
Level 15

What exactly is living expenses? I love with my parents rent free but I pay for my stuff what I need and then some

Basically,

Food

Clothing

Shelter

Transportation

Entertainment (at a *RESONABLE* amount for your income)

If you live with your parents, there's no question they provide you shelter and it's a fair bet they feed you to. If you are under the age of 19 what you make or what your provide doesn't matter. 

****OR****

If you are a full time student under the age of 23 your earnings dont' matter. You would be hard pressed to provie that you provide more than 50% of your own support. I seriously doubt it would be possible to do with your setup, even if you earned a million dollars.

There are those rare occasions which practically guarantee an audit with chances more than 90% the person being audited will be denied their claim of providing more than half of their own support.

TomD8
Level 15

What exactly is living expenses? I love with my parents rent free but I pay for my stuff what I need and then some

Go to Page 15 of this IRS reference and you'll find a worksheet for determining "support": https://www.irs.gov/pub/irs-pdf/p501.pdf 

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