topic Taxable income in Tax law changes

Taxable income

Mtgiedd — Fri, 18 Aug 2023 13:10:43 GMT

My son gives me $645 a month to pay for his phone bill and insurance plus to help me pay for my HOA expenses he doesn’t live here anymore is this taxable?

Re: Taxable income

DoninGA — Fri, 18 Aug 2023 13:55:11 GMT

No, that income is not taxable. Those are gifts to you from your son and gifts received are not reported on a tax return.

Re: Taxable income

NCperson — Sat, 19 Aug 2023 01:45:32 GMT

and most of what you asked about isn't even a gift! if he is reimbursing your for his fair share of the phone bill and his insurance, that isn't even a gift!