Is child’s room and board considered taxable income for parent

MAG51 · ‎July 5, 2021

Is child’s room and board considered taxable income for parent?

macuser_22 · ‎July 5, 2021

Yes. There is no deduction for a child's living expenses.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

xmasbaby0 · ‎July 5, 2021

Are you asking about room and board for college-----or in some other context?

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

MAG51 · ‎July 5, 2021

My 20 year old son has a full time job and still living in our home.

He pays us a monthly room and board.

I wanted to know if that room and board is considered taxable income for his mother and I?

MAG51 · ‎July 5, 2021

He is not currently in school.

xmasbaby0 · ‎July 5, 2021

That sounds like simple family cost sharing----not something to report on a tax return----unless you have some sort of written lease agreement with your son.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Mike9241 · ‎September 2, 2021

you're sharing expenses. it is not taxable.

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Is child’s room and board considered taxable income for parent