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Level 1
Aug 18, 2023 1:10 PM UTC
Question

Taxable income

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?

2 replies

DoninGA
Level 15
Level 15
Aug 18, 2023 1:55 PM UTC

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

Level 15
Aug 19, 2023 1:45 AM UTC

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!