in Education
2074317
Both of my elderly Parents live with us. My Dad received $4800 from his 401K. If they both file separate returns can we claim their income was $2400 each to keep them under the Gross Max income for eligibility in 2020?
You'll need to sign in or create an account to connect with an expert.
Both of my elderly Parents live with us. My Dad received $4800 from his 401K. If they both file separate returns can we claim their income was $2400 each to keep them under the Gross Max income for eligibility in 2020?
your dad doesn't qualify as a dependent since his gross income is over $4300. and NO you can't split the income.
Both of my elderly Parents live with us. My Dad received $4800 from his 401K. If they both file separate returns can we claim their income was $2400 each to keep them under the Gross Max income for eligibility in 2020?
your dad doesn't qualify as a dependent since his gross income is over $4300. and NO you can't split the income.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
anonymouse1
Level 5
in Education
rgrahovec55
New Member
bgoodreau01
Returning Member
bgoodreau01
Returning Member
kyra8fox
Returning Member